Azimuth Capital Investment Management LLC Has $3.51 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Azimuth Capital Investment Management LLC cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 45.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,370 shares of the financial services provider's stock after selling 27,420 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Iron Mountain were worth $3,508,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock worth $978,479,000 after purchasing an additional 128,622 shares in the last quarter. Wealthfront Advisers LLC raised its position in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after buying an additional 92,475 shares in the last quarter. Norges Bank bought a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $348,249,000. Finally, Invesco Ltd. increased its stake in shares of Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after buying an additional 363,783 shares during the period. Institutional investors own 80.13% of the company's stock.

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Insider Activity

In other news, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Down 0.6 %

Shares of NYSE:IRM traded down $0.53 during midday trading on Tuesday, reaching $83.86. 366,784 shares of the company were exchanged, compared to its average volume of 1,815,498. The firm has a market cap of $24.63 billion, a PE ratio of 137.48, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a fifty day simple moving average of $89.09 and a two-hundred day simple moving average of $105.22.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the firm earned $0.52 EPS. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.74%. Iron Mountain's payout ratio is currently 514.75%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $121.29.

Iron Mountain 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.