Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,482,820 shares of the financial services provider's stock after purchasing an additional 363,783 shares during the period. Invesco Ltd. owned 0.85% of Iron Mountain worth $260,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Key Financial Inc raised its holdings in shares of 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 buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth $26,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain during the fourth quarter worth $26,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Iron Mountain by 46.4% in 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 during the period. Finally, Parkworth Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter worth $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded up $0.54 during trading hours on Wednesday, reaching $83.84. The company's stock had a trading volume of 174,893 shares, compared to its average volume of 2,164,928. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The company's 50 day simple moving average is $88.63 and its 200 day simple moving average is $105.07. The stock has a market cap of $24.63 billion, a P/E ratio of 137.43, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its 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). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were paid a dividend of $0.785 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Monday, March 17th. Iron Mountain's dividend payout ratio is presently 514.75%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays decreased their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. dropped 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 note on Tuesday, February 18th. Finally, Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain currently has an average rating of "Buy" and an average target price of $121.29.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is owned by insiders.

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.