First Trust Advisors LP Has $23.05 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

First Trust Advisors LP lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,258 shares of the financial services provider's stock after selling 31,598 shares during the quarter. First Trust Advisors LP owned 0.07% of Iron Mountain worth $23,046,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of IRM. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% during 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 in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. grew its stake in 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 valued at $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in Iron Mountain during the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 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 transaction of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Down 0.2 %

IRM traded down $0.18 on Tuesday, reaching $88.29. The company had a trading volume of 1,397,413 shares, compared to its average volume of 1,833,328. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The company has a fifty day moving average of $85.99 and a 200-day moving average of $102.82. The company has a market capitalization of $26.04 billion, a P/E ratio of 144.74, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the company posted $0.52 earnings per share. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm 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 represents a $3.14 annualized dividend and a yield of 3.56%. 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 (DPR) is presently 514.75%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IRM shares. 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. Wells Fargo & Company reduced 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. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays lowered their price objective 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. Finally, Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price on the stock. 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. According to data from MarketBeat.com, Iron Mountain currently has an average rating of "Buy" and an average 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.