Norges Bank Purchases New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Norges Bank acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,313,186 shares of the financial services provider's stock, valued at approximately $348,249,000. Norges Bank owned about 1.13% of Iron Mountain at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Geller Advisors LLC grew its position in shares of Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock worth $403,000 after buying an additional 96 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after acquiring an additional 100 shares during the period. Premier Path Wealth Partners LLC raised its position in shares of Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock valued at $299,000 after acquiring an additional 106 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after purchasing an additional 113 shares during the period. Finally, One Charles Private Wealth Services LLC boosted its position in shares of Iron Mountain by 1.0% in the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock worth $1,236,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

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Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,848 shares of company stock valued at $23,418,519 over the last three months. Company insiders own 2.10% of the company's stock.

Iron Mountain Stock Performance

NYSE IRM traded down $5.07 during trading hours on Thursday, reaching $83.03. 554,228 shares of the company's stock were exchanged, compared to its average volume of 1,766,443. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 136.11, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company's 50-day moving average is $93.59 and its two-hundred day moving average is $107.75. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company earned $0.52 EPS. Research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.78%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's payout ratio is 514.75%.

Wall Street Analyst Weigh In

A number of research firms recently commented on IRM. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their target price 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 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 research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $125.67.

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.