Aviva PLC decreased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,473 shares of the financial services provider's stock after selling 8,126 shares during the quarter. Aviva PLC owned 0.15% of Iron Mountain worth $45,142,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in Iron Mountain by 6.1% in the third quarter. HighTower Advisors LLC now owns 131,174 shares of the financial services provider's stock worth $15,581,000 after purchasing an additional 7,529 shares during the period. Quarry LP boosted its holdings in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider's stock valued at $59,000 after buying an additional 230 shares during the period. Quantinno Capital Management LP raised its stake in Iron Mountain by 32.8% during the third quarter. Quantinno Capital Management LP now owns 15,579 shares of the financial services provider's stock worth $1,851,000 after acquiring an additional 3,849 shares during the period. Weiss Asset Management LP bought a new position in Iron Mountain in the third quarter worth about $6,659,000. Finally, Worldquant Millennium Advisors LLC boosted its stake in Iron Mountain by 4,336.6% in the third quarter. Worldquant Millennium Advisors LLC now owns 193,747 shares of the financial services provider's stock valued at $23,023,000 after acquiring an additional 189,380 shares during the period. 80.13% of the stock is currently owned by institutional investors.
Iron Mountain Price Performance
Shares of Iron Mountain stock traded up $0.21 on Friday, hitting $81.84. The company had a trading volume of 491,861 shares, compared to its average volume of 1,811,339. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company has a market cap of $24.04 billion, a PE ratio of 133.70, a PEG ratio of 5.15 and a beta of 0.97. The business has a 50-day simple moving average of $89.84 and a 200-day simple moving average of $105.78.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results 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 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 analyst estimates of $1.60 billion. During the same quarter last year, the business posted $0.52 earnings per share. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.
Iron Mountain Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.84%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 514.75%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday. They issued a "buy" rating and a $95.00 target price on the stock. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Wells Fargo & Company dropped their price objective 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. Finally, StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $121.29.
Get Our Latest Report on IRM
Insider Buying and Selling
In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was 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 accessible through this link. Also, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares of the company's stock, valued at $21,681,924.66. This trade 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 worth $29,370,872 in the last ninety days. 2.10% of the stock is currently owned by corporate 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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