Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 46.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 312,873 shares of the financial services provider's stock after selling 267,946 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.11% of Iron Mountain worth $32,868,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in IRM. Merit Financial Group LLC boosted its holdings in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock valued at $1,570,000 after purchasing an additional 7,137 shares during the last quarter. Tidal Investments LLC lifted its holdings in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock valued at $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock worth $961,000 after acquiring an additional 5,511 shares during the period. Proficio Capital Partners LLC acquired a new stake in Iron Mountain during the fourth quarter worth $102,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Iron Mountain in the third quarter valued at $24,122,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $1.58 on Friday, hitting $84.21. 1,824,556 shares of the company's stock were exchanged, compared to its average volume of 1,827,589. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company has a market capitalization of $24.74 billion, a PE ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 0.97. The firm's 50-day moving average is $87.29 and its 200 day moving average is $104.44.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.60 billion. During the same period in the previous year, the business posted $0.52 EPS. On average, analysts anticipate 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. Investors of record on Monday, March 17th were given a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.73%. Iron Mountain's dividend payout ratio is 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. 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. Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday. Finally, 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 research note on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of "Buy" and an average target price of $121.29.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm's 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 transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock worth $29,370,872 in the last quarter. 2.10% of the stock is owned by insiders.

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.