Guggenheim Capital LLC Sells 72,271 Shares of Iron Mountain Incorporated (NYSE:IRM)

Guggenheim Capital LLC decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 77.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,618 shares of the financial services provider's stock after selling 72,271 shares during the period. Guggenheim Capital LLC's holdings in Iron Mountain were worth $2,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after acquiring an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC lifted its stake in Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after purchasing an additional 106 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Iron Mountain by 1.6% in the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock valued at $821,000 after purchasing an additional 112 shares in the last quarter. Mather Group LLC. increased its stake in shares of Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after purchasing an additional 113 shares during the last quarter. Finally, One Charles Private Wealth Services LLC raised its holdings in shares of 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 worth $1,236,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Trading Up 1.4 %

NYSE:IRM traded up $1.18 on Wednesday, reaching $84.21. 1,007,517 shares of the stock traded hands, compared to its average volume of 1,824,776. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.06, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company's 50 day moving average is $86.62 and its 200-day moving average is $103.84.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $0.52 EPS. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.73%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain's dividend payout ratio is presently 514.75%.

Insider Activity

In other news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the company'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 value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,370,872 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on IRM shares. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. lowered their price target 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, Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $121.29.

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.