Capital World Investors Sells 298,552 Shares of Iron Mountain Incorporated (NYSE:IRM)

Capital World Investors cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,817,417 shares of the financial services provider's stock after selling 298,552 shares during the period. Capital World Investors owned approximately 1.30% of Iron Mountain worth $401,249,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the 4th quarter valued at $26,000. Key Financial Inc increased its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after buying an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain during the 4th quarter worth $53,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of IRM stock traded up $1.18 during mid-day trading on Wednesday, hitting $84.21. The company's stock had a trading volume of 1,007,517 shares, compared to its average volume of 1,828,977. The company has a market cap of $24.74 billion, a PE ratio of 138.06, a P/E/G ratio of 5.15 and a beta of 0.97. The company's fifty day simple moving average is $86.62 and its 200-day simple moving average is $103.84. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its 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). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.73%. The ex-dividend date was Monday, March 17th. Iron Mountain's payout ratio is 514.75%.

Analyst Ratings Changes

IRM has been the subject of several research analyst reports. Barclays lowered 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. cut their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company cut 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 report on Tuesday, February 4th. One investment 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, Iron Mountain presently has a consensus rating of "Buy" and an average target price of $121.29.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the company'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 transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction 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 approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,973 shares of company stock worth $29,370,872. Company insiders own 2.10% of the company's stock.

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.