Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,916 shares of the financial services provider's stock after buying an additional 3,707 shares during the quarter. Franklin Resources Inc.'s holdings in Iron Mountain were worth $13,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geller Advisors LLC lifted its stake in Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock worth $403,000 after purchasing an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Iron Mountain by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after buying an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after buying an additional 106 shares in the last quarter. Mather Group LLC. boosted its stake in Iron Mountain by 4.6% during the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after buying an additional 113 shares during the last quarter. Finally, One Charles Private Wealth Services LLC grew its holdings in Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after buying an additional 119 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IRM shares. 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 report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday. They set a "buy" rating and a $95.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain has an average rating of "Buy" and an average target price of $121.29.

Iron Mountain Price Performance

IRM stock traded up $1.76 during mid-day trading on Friday, reaching $83.39. The company had a trading volume of 1,727,819 shares, compared to its average volume of 1,819,298. The company has a market capitalization of $24.50 billion, a PE ratio of 136.71, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The firm has a 50 day moving average of $89.48 and a 200 day moving average of $105.53. 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 issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations 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 prior year, the company posted $0.52 earnings per share. Analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a $0.785 dividend. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.77%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 514.75%.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. 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.