Alberta Investment Management Corp Reduces Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Alberta Investment Management Corp lowered its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 36.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,400 shares of the financial services provider's stock after selling 13,800 shares during the period. Alberta Investment Management Corp's holdings in Iron Mountain were worth $2,565,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the period. Mizuho Securities USA LLC lifted its position in Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock worth $61,613,000 after buying an additional 495,898 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Iron Mountain by 12,953.4% during the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider's stock worth $53,312,000 after buying an additional 445,207 shares during the period. abrdn plc increased its position in Iron Mountain by 88.2% during the third quarter. abrdn plc now owns 626,280 shares of the financial services provider's stock valued at $73,770,000 after acquiring an additional 293,425 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in shares of Iron Mountain by 10,432.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider's stock valued at $243,000 after acquiring an additional 240,261 shares during the period. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IRM has been the subject of a number of recent analyst reports. BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain has an average rating of "Moderate Buy" and an average target price of $127.67.

Iron Mountain Stock Down 1.9 %

NYSE:IRM traded down $1.73 during midday trading on Friday, hitting $91.77. The stock had a trading volume of 2,392,295 shares, compared to its average volume of 2,128,673. The stock has a 50-day moving average of $103.91 and a 200 day moving average of $112.39. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 150.44, a PEG ratio of 5.11 and a beta of 1.01. Iron Mountain Incorporated has a one year low of $70.00 and a one year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the company posted $0.52 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.42%. Iron Mountain's payout ratio is 514.75%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Company Profile

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.