Raymond James Financial Services Advisors Inc. Sells 4,622 Shares of Iron Mountain Incorporated (NYSE:IRM)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 219,345 shares of the financial services provider’s stock after selling 4,622 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.08% of Iron Mountain worth $10,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IRM. Financial Gravity Asset Management Inc. bought a new stake in shares of Iron Mountain in the third quarter valued at approximately $2,038,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Iron Mountain by 440.1% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 625 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Iron Mountain in the third quarter valued at $42,000. Accurate Wealth Management LLC purchased a new position in shares of Iron Mountain in the fourth quarter valued at $48,000. Finally, Spire Wealth Management grew its position in shares of Iron Mountain by 104.1% in the fourth quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Iron Mountain Stock Down 0.2 %

Shares of IRM opened at $55.09 on Monday. The company has a debt-to-equity ratio of 19.91, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $16.07 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.71 and a beta of 0.91. The stock has a 50 day simple moving average of $53.15 and a two-hundred day simple moving average of $52.64. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $57.21.

Iron Mountain (NYSE:IRM – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Iron Mountain had a return on equity of 88.48% and a net margin of 11.20%. Iron Mountain’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. On average, analysts forecast that Iron Mountain Incorporated will post 3.77 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a dividend of $0.6185 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.49%. Iron Mountain’s dividend payout ratio is presently 124.75%.

Insider Buying and Selling

In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $51.77, for a total transaction of $58,241.25. Following the sale, the executive vice president now owns 59,419 shares of the company’s stock, valued at approximately $3,076,121.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction dated Friday, April 14th. The shares were sold at an average price of $53.55, for a total value of $562,649.85. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $15,832,057.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah Marson sold 1,125 shares of the company’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $51.77, for a total transaction of $58,241.25. Following the completion of the sale, the executive vice president now directly owns 59,419 shares in the company, valued at $3,076,121.63. The disclosure for this sale can be found here. Insiders sold 94,552 shares of company stock valued at $4,993,621 over the last quarter. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IRM. Barclays raised their price objective on shares of Iron Mountain from $56.00 to $64.00 in a research report on Friday, May 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Iron Mountain in a research note on Monday, March 6th. Finally, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Iron Mountain Company Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.