15,705 Shares in Iron Mountain Incorporated (NYSE:IRM) Bought by Burling Wealth Partners LLC

Burling Wealth Partners LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,705 shares of the financial services provider's stock, valued at approximately $1,651,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after buying an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC lifted its stake in Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after acquiring an additional 106 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in Iron Mountain by 1.6% during the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after acquiring an additional 112 shares in the last quarter. Mather Group LLC. increased its position in shares of Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after purchasing an additional 113 shares during the last quarter. Finally, One Charles Private Wealth Services LLC raised its holdings in shares of Iron Mountain by 1.0% in the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after purchasing an additional 119 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

NYSE IRM traded up $2.65 on Friday, reaching $87.97. The stock had a trading volume of 2,097,977 shares, compared to its average volume of 1,836,523. The stock has a market cap of $25.95 billion, a P/E ratio of 144.21, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The business's 50-day moving average price is $86.08 and its 200 day moving average price is $103.15.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 analyst estimates of $1.60 billion. During the same quarter in the prior year, the company earned $0.52 EPS. On average, sell-side analysts predict 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. This represents a $3.14 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is 514.75%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 over the last three months. 2.10% of the stock is currently owned by company 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.