Epoch Investment Partners Inc. Sells 521,373 Shares of Iron Mountain Incorporated (NYSE:IRM)

Epoch Investment Partners Inc. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 41.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 747,550 shares of the financial services provider's stock after selling 521,373 shares during the period. Epoch Investment Partners Inc. owned 0.25% of Iron Mountain worth $78,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthfront Advisers LLC increased its holdings in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the period. Norges Bank purchased a new stake in Iron Mountain in the fourth quarter valued at approximately $348,249,000. TD Asset Management Inc. increased its holdings in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after buying an additional 1,086,308 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Iron Mountain during the 4th quarter worth $55,271,000. Finally, Invesco Ltd. lifted its stake in Iron Mountain by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after purchasing an additional 363,783 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on IRM shares. Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Barclays reduced their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Finally, Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $121.29.

Iron Mountain Trading Up 2.0 %

IRM traded up $1.69 during trading on Thursday, hitting $85.92. 351,788 shares of the company's stock traded hands, compared to its average volume of 1,823,219. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 140.90, a PEG ratio of 5.15 and a beta of 0.97. The company's 50 day simple moving average is $86.40 and its two-hundred day simple moving average is $103.70. 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 quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same period last year, the business earned $0.52 earnings per share. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.65%. Iron Mountain's dividend payout ratio is 514.75%.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,973 shares of company stock valued at $29,370,872. Company insiders own 2.10% of the company's stock.

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.