FIL Ltd raised its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 768.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,547 shares of the financial services provider's stock after acquiring an additional 4,908 shares during the quarter. FIL Ltd's holdings in Iron Mountain were worth $583,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in IRM. Shelton Capital Management lifted its position in shares of Iron Mountain by 0.7% during the 4th quarter. Shelton Capital Management now owns 40,663 shares of the financial services provider's stock valued at $4,274,000 after acquiring an additional 292 shares during the period. Invesco Ltd. grew its position in Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after purchasing an additional 363,783 shares during the period. Employees Retirement System of Texas increased its stake in Iron Mountain by 28.6% during the 4th quarter. Employees Retirement System of Texas now owns 130,500 shares of the financial services provider's stock valued at $13,717,000 after purchasing an additional 29,000 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Iron Mountain by 11.8% in the fourth quarter. Cerity Partners LLC now owns 32,836 shares of the financial services provider's stock valued at $3,625,000 after buying an additional 3,474 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of Iron Mountain by 2.4% during the fourth quarter. Wedbush Securities Inc. now owns 8,031 shares of the financial services provider's stock valued at $844,000 after buying an additional 192 shares during the last quarter. 80.13% of the stock is owned by institutional investors.
Insider Activity
In related news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 over the last quarter. Company insiders own 2.10% of the company's stock.
Iron Mountain Stock Performance
IRM traded down $0.66 during midday trading on Wednesday, reaching $82.64. The company had a trading volume of 1,176,103 shares, compared to its average volume of 1,818,693. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The business has a 50-day moving average price of $88.63 and a two-hundred day moving average price of $105.07. The stock has a market cap of $24.27 billion, a PE ratio of 135.48, a P/E/G ratio of 5.15 and a beta of 0.97.
Iron Mountain (NYSE:IRM - Get Free Report) last released 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the business earned $0.52 earnings per share. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.
Iron Mountain Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders 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. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.80%. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on IRM. Barclays cut their price target 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 Iron Mountain from a "sell" rating to a "hold" rating in a research report on Tuesday, April 8th. 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 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Finally, Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain presently has an average rating of "Buy" and a consensus target price of $121.29.
Get Our Latest Research Report on Iron Mountain
About Iron Mountain
(
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.
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