Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,590,370 shares of the financial services provider's stock after selling 105,528 shares during the period. Ameriprise Financial Inc. owned approximately 0.54% of Iron Mountain worth $167,263,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its position in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock valued at $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after acquiring an additional 106 shares during the last quarter. Belpointe Asset Management LLC raised its position in Iron Mountain by 1.6% during the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after buying an additional 112 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Iron Mountain by 4.6% during the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after purchasing an additional 113 shares in the last quarter. Finally, DoubleLine ETF Adviser LP grew its stake in Iron Mountain by 0.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock valued at $2,214,000 after acquiring an additional 114 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of IRM traded up $0.34 during midday trading on Friday, hitting $97.08. The company had a trading volume of 1,049,120 shares, compared to its average volume of 1,844,857. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The company's 50-day simple moving average is $86.50 and its 200-day simple moving average is $101.31. The firm has a market capitalization of $28.64 billion, a P/E ratio of 159.15, a P/E/G ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $1.10 EPS. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.23%. Iron Mountain's dividend payout ratio is presently 765.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IRM shares. 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. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. 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. Finally, Barclays reduced their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. 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 company's stock. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of "Buy" and an average price target of $121.29.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at $21,681,924.66. The trade was a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,112,345 in the last ninety days. Insiders own 2.10% of the company's stock.

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.