F M Investments LLC boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 22.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,437 shares of the financial services provider's stock after acquiring an additional 4,309 shares during the quarter. F M Investments LLC's holdings in Iron Mountain were worth $2,463,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of IRM. APG Asset Management US Inc. lifted its holdings in shares of Iron Mountain by 7.1% in the 4th quarter. APG Asset Management US Inc. now owns 514,208 shares of the financial services provider's stock valued at $54,048,000 after buying an additional 34,208 shares during the period. APG Asset Management N.V. purchased a new position in shares of Iron Mountain in the 4th quarter worth $16,160,000. Advisory Services Network LLC raised its stake in shares of Iron Mountain by 5.9% in the 4th quarter. Advisory Services Network LLC now owns 28,296 shares of the financial services provider's stock valued at $2,974,000 after acquiring an additional 1,575 shares during the period. Bank of Nova Scotia boosted its holdings in Iron Mountain by 26.9% in the 4th quarter. Bank of Nova Scotia now owns 47,633 shares of the financial services provider's stock worth $5,007,000 after acquiring an additional 10,105 shares during the period. Finally, FIL Ltd boosted its holdings in Iron Mountain by 768.1% in the fourth quarter. FIL Ltd now owns 5,547 shares of the financial services provider's stock valued at $583,000 after purchasing an additional 4,908 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on IRM. 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 report on Tuesday, February 4th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Barclays decreased their price target 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. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $121.29.
View Our Latest Stock Analysis on Iron Mountain
Insider Transactions at Iron Mountain
In related news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following 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 at this link. Also, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is currently owned by insiders.
Iron Mountain Stock Down 0.0 %
IRM traded down $0.04 during trading on Wednesday, hitting $83.26. The company's stock had a trading volume of 286,506 shares, compared to its average volume of 1,815,211. The stock's fifty day moving average price is $88.63 and its 200-day moving average price is $105.07. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The firm has a market capitalization of $24.46 billion, a P/E ratio of 136.49, a PEG ratio of 5.15 and a beta of 0.97.
Iron Mountain (NYSE:IRM - Get Free Report) last issued 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). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.52 earnings per share. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.
Iron Mountain Increases Dividend
The company also recently declared 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 is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.77%. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.
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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