OneAscent Financial Services LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,751 shares of the financial services provider's stock, valued at approximately $501,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock worth $978,479,000 after purchasing an additional 128,622 shares in the last quarter. Wealthfront Advisers LLC lifted its position in Iron Mountain by 9,843.3% during 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 acquiring an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after acquiring an additional 92,475 shares in the last quarter. Norges Bank purchased a new stake in Iron Mountain in the fourth quarter worth about $348,249,000. Finally, TD Asset Management Inc. increased its stake 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 valued at $205,220,000 after purchasing an additional 1,086,308 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.
Iron Mountain Stock Performance
Shares of IRM stock traded up $7.54 on Wednesday, reaching $84.47. The stock had a trading volume of 3,733,632 shares, compared to its average volume of 1,814,606. The stock has a market cap of $24.81 billion, a P/E ratio of 138.48, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The company has a 50 day simple moving average of $90.22 and a 200 day simple moving average of $106.04.
Iron Mountain (NYSE:IRM - Get Free Report) last released 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.
Iron Mountain Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.72%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. Iron Mountain's dividend payout ratio is 514.75%.
Insider Buying and Selling
In related news, EVP Mithu Bhargava sold 1,738 shares of the 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 completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is owned by company insiders.
Analysts Set New Price Targets
IRM has been the topic of a number of analyst reports. Truist Financial started coverage on Iron Mountain in a research report on Tuesday. They issued a "buy" rating and a $95.00 price target on the stock. 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 note on Thursday, March 20th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped 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 note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of "Buy" and a consensus target price of $121.29.
Check Out Our Latest Report on IRM
About Iron Mountain
(
Free Report)
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.
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