Royal Fund Management LLC Sells 161 Shares of Iron Mountain Incorporated (NYSE:IRM)

Royal Fund Management LLC decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 15,569 shares of the financial services provider’s stock after selling 161 shares during the quarter. Royal Fund Management LLC’s holdings in Iron Mountain were worth $1,089,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. One Charles Private Wealth Services LLC increased its stake in shares of Iron Mountain by 7.1% in the 4th quarter. One Charles Private Wealth Services LLC now owns 11,474 shares of the financial services provider’s stock valued at $803,000 after acquiring an additional 764 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Iron Mountain by 37.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 26,023 shares of the financial services provider’s stock valued at $1,821,000 after acquiring an additional 7,144 shares in the last quarter. Natixis Advisors L.P. increased its stake in shares of Iron Mountain by 3.3% in the 4th quarter. Natixis Advisors L.P. now owns 163,295 shares of the financial services provider’s stock valued at $11,427,000 after acquiring an additional 5,219 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at $313,000. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of Iron Mountain in the 4th quarter valued at $403,000. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $22,670,442. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $78.48, for a total transaction of $156,960.00. Following the sale, the executive vice president now directly owns 65,286 shares in the company, valued at $5,123,645.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total value of $1,217,295.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $22,670,442. The disclosure for this sale can be found here. Insiders have sold 162,124 shares of company stock worth $12,563,361 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Barclays lifted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Iron Mountain Stock Down 2.2 %

IRM traded down $1.68 during mid-day trading on Friday, reaching $75.32. 1,976,983 shares of the stock were exchanged, compared to its average volume of 1,240,763. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.78 and a current ratio of 0.86. The stock has a market capitalization of $22.08 billion, a PE ratio of 114.12, a price-to-earnings-growth ratio of 4.61 and a beta of 0.96. The company has a 50 day moving average price of $78.13 and a two-hundred day moving average price of $69.87. Iron Mountain Incorporated has a 1 year low of $52.81 and a 1 year high of $82.19.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.