Iron Mountain Incorporated (NYSE:IRM) Stock Position Trimmed by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,131 shares of the financial services provider's stock after selling 3,742 shares during the period. Ontario Teachers Pension Plan Board's holdings in Iron Mountain were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IRM. Wealthfront Advisers LLC increased its position in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after buying an additional 6,795,792 shares in the last quarter. Norges Bank acquired a new position in Iron Mountain in the 4th quarter valued at about $348,249,000. TD Asset Management Inc. raised its stake in Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Iron Mountain in the 4th quarter valued at about $55,271,000. Finally, Invesco Ltd. raised its stake in Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after purchasing an additional 363,783 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 research analysts have recently commented on the stock. Truist Financial assumed 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 for the company. JPMorgan Chase & Co. dropped their price objective 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, Barclays decreased their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $121.29.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $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. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 over the last 90 days. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Up 2.1 %

Shares of IRM traded up $1.74 during trading on Wednesday, reaching $84.77. The company's stock had a trading volume of 246,971 shares, compared to its average volume of 2,119,648. The company has a fifty day moving average of $86.62 and a two-hundred day moving average of $103.84. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The company has a market cap of $24.90 billion, a price-to-earnings ratio of 138.97, a P/E/G ratio of 5.15 and a beta of 0.97.

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 net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.70%. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

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.