Price T Rowe Associates Inc. MD Purchases 57,104 Shares of Iron Mountain Incorporated (NYSE:IRM)

Price T Rowe Associates Inc. MD boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 877,238 shares of the financial services provider's stock after acquiring an additional 57,104 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.30% of Iron Mountain worth $92,207,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Key Financial Inc increased 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 purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the 4th quarter valued at about $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. lifted its position in Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was 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 worth $29,370,872 over the last 90 days. Insiders own 2.10% of the company's stock.

Iron Mountain Stock Up 3.1 %

IRM stock opened at $87.97 on Monday. The company's 50-day moving average price is $86.08 and its two-hundred day moving average price is $103.04. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The firm has a market cap of $25.95 billion, a P/E ratio of 144.21, 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 data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 firm earned $0.52 earnings per share. Equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were paid a $0.785 dividend. The ex-dividend date 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 3.57%. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target for the company. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Wells Fargo & Company decreased 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 note on Tuesday, February 4th. Barclays lowered 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. Finally, StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Iron Mountain has an average rating of "Buy" and an average price target of $121.29.

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.

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