Iron Mountain Incorporated (NYSE:IRM) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,618 shares of the financial services provider's stock after selling 17,074 shares during the quarter. National Bank of Canada FI owned about 0.05% of Iron Mountain worth $15,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the fourth quarter valued at $26,000. Key Financial Inc grew its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares in the last quarter. Dunhill Financial LLC raised its position in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock valued at $54,000 after buying an additional 152 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,973 shares of company stock worth $29,370,872. Insiders own 2.10% of the company's stock.

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Iron Mountain Stock Down 5.2 %

Shares of NYSE IRM traded down $4.43 during midday trading on Thursday, reaching $80.07. 500,317 shares of the company's stock traded hands, compared to its average volume of 2,196,456. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 131.50, a P/E/G ratio of 5.15 and a beta of 0.97. The stock's 50 day simple moving average is $90.22 and its 200-day simple moving average is $106.04. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly 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). The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the business posted $0.52 earnings per share. Equities analysts predict 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 paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.92%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several analyst reports. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday. They issued a "buy" rating and a $95.00 target price for the company. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company decreased 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, JPMorgan Chase & Co. reduced 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. One investment 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 company's stock. According to MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and a consensus price target of $121.29.

Iron Mountain Company 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.