Iron Mountain Incorporated (NYSE:IRM) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 22.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,768 shares of the financial services provider's stock after selling 3,396 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Iron Mountain were worth $1,237,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Key Financial Inc lifted its holdings in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at about $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its position in Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after buying an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at about $53,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $83.04 on Wednesday. The stock has a market capitalization of $24.39 billion, a P/E ratio of 136.13, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm's 50-day moving average is $86.62 and its two-hundred 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 (EPS) 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 analyst estimates of $1.60 billion. During the same quarter last year, the business posted $0.52 EPS. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. The ex-dividend date was Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.78%. Iron Mountain's dividend payout ratio is 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the chief executive officer now owns 237,402 shares of the company's stock, 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. Insiders sold 318,973 shares of company stock worth $29,370,872 in the last 90 days. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on IRM. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $121.29.

Iron Mountain 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.

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