Federated Hermes Inc. Has $4.63 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Federated Hermes Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,058 shares of the financial services provider's stock after selling 10,026 shares during the quarter. Federated Hermes Inc.'s holdings in Iron Mountain were worth $4,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC raised its holdings 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 worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 92,475 shares during the last quarter. Norges Bank bought a new stake in Iron Mountain during the 4th quarter valued at approximately $348,249,000. TD Asset Management Inc. grew its holdings in 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 valued at $205,220,000 after buying an additional 1,086,308 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in Iron Mountain by 0.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,246,311 shares of the financial services provider's stock worth $131,000,000 after buying an additional 5,705 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

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Iron Mountain Stock Up 2.2 %

IRM stock traded up $1.85 during midday trading on Thursday, reaching $84.48. 630,913 shares of the company's stock traded hands, compared to its average volume of 1,816,951. The company has a 50-day simple moving average of $88.16 and a two-hundred day simple moving average of $104.91. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company has a market cap of $24.81 billion, a price-to-earnings ratio of 138.89, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 company posted $0.52 earnings per share. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company 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 3.72%. The ex-dividend date was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is 514.75%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock worth $29,370,872 over the last 90 days. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IRM. 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Tuesday, April 8th. 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. Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Finally, Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain presently has a consensus 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.