Barclays PLC cut its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 405,421 shares of the financial services provider's stock after selling 185,881 shares during the quarter. Barclays PLC owned about 0.14% of Iron Mountain worth $42,615,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Wealthfront Advisers LLC grew its holdings in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Norges Bank acquired a new stake in Iron Mountain during the fourth quarter worth approximately $348,249,000. TD Asset Management Inc. increased its holdings in Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after purchasing an additional 1,086,308 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Iron Mountain in the fourth quarter valued at approximately $55,271,000. Finally, Invesco Ltd. boosted its holdings in shares of Iron Mountain by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after buying an additional 363,783 shares in the last quarter. Institutional investors own 80.13% of the company's stock.
Iron Mountain Stock Up 1.9 %
IRM stock opened at $84.21 on Friday. The firm has a market cap of $24.74 billion, a PE ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 0.97. The business has a 50 day moving average of $87.73 and a 200-day moving average of $104.67. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.
Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.
Iron Mountain Increases Dividend
The business also recently declared 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 was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.
Insider Buying and Selling
In related news, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and a consensus price target of $121.29.
Check Out Our Latest Stock Report on IRM
Iron Mountain Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM - Free Report).
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