Mariner LLC Has $5.24 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Mariner LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,834 shares of the financial services provider's stock after acquiring an additional 3,154 shares during the quarter. Mariner LLC's holdings in Iron Mountain were worth $5,238,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at $26,000. Key Financial Inc raised its holdings in shares of 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 buying an additional 251 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Iron Mountain by 46.4% during the 4th 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 in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter worth about $53,000. Institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRM. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on 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 started coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Finally, StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $121.29.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 1.4 %

Shares of Iron Mountain stock traded up $1.18 during trading on Wednesday, reaching $84.21. 1,007,517 shares of the company were exchanged, compared to its average volume of 1,824,776. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The business has a 50-day moving average price of $86.62 and a 200-day moving average price of $103.84. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.06, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last announced 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company earned $0.52 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.73%. 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.