Wellington Management Group LLP Sells 845,920 Shares of Iron Mountain Incorporated (NYSE:IRM)

Wellington Management Group LLP reduced its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,547,708 shares of the financial services provider's stock after selling 845,920 shares during the period. Wellington Management Group LLP owned 0.53% of Iron Mountain worth $162,680,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealthfront Advisers LLC increased its position in Iron Mountain by 9,843.3% in the 4th 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 bought a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $348,249,000. TD Asset Management Inc. raised its position in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after purchasing an additional 1,086,308 shares during the period. Raymond James Financial Inc. bought a new position in shares of Iron Mountain in the 4th quarter worth $55,271,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in Iron Mountain by 158.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider's stock valued at $56,867,000 after purchasing an additional 331,536 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have weighed in on IRM. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Finally, StockNews.com lowered Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Iron Mountain currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.67.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,973 shares of company stock valued at $29,370,872. Company insiders own 2.10% of the company's stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded up $0.23 during mid-day trading on Monday, hitting $77.42. 3,357,206 shares of the stock were exchanged, compared to its average volume of 1,793,328. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The company has a 50-day simple moving average of $91.82 and a 200 day simple moving average of $106.91. The company has a market capitalization of $22.74 billion, a P/E ratio of 126.91, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the firm posted $0.52 EPS. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current 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 issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

About Iron Mountain

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.