GSI Capital Advisors LLC trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 26.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,029 shares of the financial services provider's stock after selling 9,196 shares during the period. Iron Mountain accounts for about 1.4% of GSI Capital Advisors LLC's holdings, making the stock its 29th biggest holding. GSI Capital Advisors LLC's holdings in Iron Mountain were worth $2,736,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock worth $978,479,000 after buying an additional 128,622 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 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 acquiring an additional 92,475 shares in the last quarter. Norges Bank purchased a new stake in Iron Mountain during the fourth quarter worth about $348,249,000. Finally, TD Asset Management Inc. lifted its holdings in Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after buying an additional 1,086,308 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently issued reports on IRM. StockNews.com lowered Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday, March 31st. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their price objective 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. Finally, Barclays lowered 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. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.67.
Check Out Our Latest Stock Analysis on IRM
Iron Mountain Price Performance
Shares of IRM traded down $1.63 during mid-day trading on Monday, reaching $75.56. 1,196,550 shares of the company's stock were exchanged, compared to its average volume of 2,145,105. The business's fifty day simple moving average is $92.35 and its 200-day simple moving average is $107.17. The stock has a market capitalization of $22.19 billion, a PE ratio of 123.76, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.
Iron Mountain Increases Dividend
The business also recently disclosed 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. This represents a $3.14 dividend on an annualized basis and a yield of 4.16%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.
Insider Buying and Selling at Iron Mountain
In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were 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. In the last ninety days, insiders have sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is currently owned by insiders.
Iron Mountain Company Profile
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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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