Freedom Investment Management Inc. Sells 3,192 Shares of Iron Mountain Incorporated (NYSE:IRM)

Freedom Investment Management Inc. trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,640 shares of the financial services provider's stock after selling 3,192 shares during the quarter. Freedom Investment Management Inc.'s holdings in Iron Mountain were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IRM. IMG Wealth Management Inc. purchased a new stake in Iron Mountain in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth $26,000. Key Financial Inc raised its holdings in shares of Iron Mountain by 25,100.0% in the fourth 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 during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Iron Mountain by 46.4% during the fourth 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. purchased a new position in Iron Mountain during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 in the last quarter. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial began coverage on shares of 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 reduced 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. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $121.29.

Iron Mountain Price Performance

IRM stock traded up $2.65 during mid-day trading on Friday, reaching $87.97. 2,097,364 shares of the company traded hands, compared to its average volume of 1,829,625. The company has a fifty day moving average price of $86.20 and a 200-day moving average price of $103.49. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company has a market capitalization of $25.95 billion, a P/E ratio of 144.21, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results 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 quarter last year, the firm earned $0.52 earnings per share. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were given a dividend of $0.785 per share. The ex-dividend date was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.57%. Iron Mountain's payout ratio is presently 514.75%.

Iron Mountain Company 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.