Wells Fargo & Company MN Sells 39,259 Shares of Iron Mountain Incorporated (NYSE:IRM)

Wells Fargo & Company MN lowered its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 660,778 shares of the financial services provider's stock after selling 39,259 shares during the period. Wells Fargo & Company MN owned approximately 0.23% of Iron Mountain worth $69,454,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its holdings in Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. Norges Bank acquired a new position in shares of Iron Mountain during the fourth quarter valued at approximately $348,249,000. TD Asset Management Inc. lifted its stake in shares of Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after buying an additional 1,086,308 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Iron Mountain during the fourth quarter worth about $55,271,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Iron Mountain by 158.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider's stock worth $56,867,000 after purchasing an additional 331,536 shares during the period. 80.13% of the stock is currently owned by institutional investors.

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Iron Mountain Trading Up 2.0 %

Shares of NYSE IRM traded up $1.66 during midday trading on Monday, reaching $85.10. The company's stock had a trading volume of 171,746 shares, compared to its average volume of 1,815,932. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 139.51, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The company has a 50 day moving average price of $89.48 and a 200 day moving average price of $105.45.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its 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 for 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 period in the prior year, the company earned $0.52 earnings per share. Research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal 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. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain's dividend payout ratio is currently 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the business'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 $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on IRM shares. Truist Financial assumed coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Wells Fargo & Company lowered 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 report on Tuesday, February 4th. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. JPMorgan Chase & Co. decreased 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 report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock 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.