Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 65.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,596 shares of the financial services provider's stock after purchasing an additional 44,911 shares during the quarter. Thrivent Financial for Lutherans' holdings in Iron Mountain were worth $12,197,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Iron Mountain by 3.2% during the 3rd quarter. Empowered Funds LLC now owns 13,482 shares of the financial services provider's stock worth $1,602,000 after acquiring an additional 414 shares in the last quarter. Caprock Group LLC increased its stake in Iron Mountain by 26.3% during the third quarter. Caprock Group LLC now owns 5,049 shares of the financial services provider's stock worth $605,000 after purchasing an additional 1,051 shares during the period. Prospera Financial Services Inc lifted its position in shares of Iron Mountain by 11.3% during the third quarter. Prospera Financial Services Inc now owns 2,808 shares of the financial services provider's stock worth $334,000 after purchasing an additional 285 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Iron Mountain in the third quarter valued at approximately $2,739,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock valued at $6,402,000 after purchasing an additional 1,446 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 318,979 shares of company stock worth $30,666,904 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Price Performance

Shares of IRM traded down $0.91 during mid-day trading on Wednesday, reaching $86.96. The company's stock had a trading volume of 1,226,216 shares, compared to its average volume of 1,683,521. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The stock has a market cap of $25.54 billion, a PE ratio of 142.55, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company's 50 day moving average is $96.32 and its 200 day moving average is $108.88.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results 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 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 company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. The ex-dividend date is 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 yield of 3.61%. Iron Mountain's payout ratio is 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research reports. Barclays reduced their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company cut their target price 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $125.67.

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.