Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 32.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,189 shares of the financial services provider's stock after selling 3,529 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Iron Mountain were worth $755,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wealthfront Advisers LLC lifted its position in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after acquiring an additional 6,795,792 shares in the last quarter. Norges Bank purchased a new position in shares of Iron Mountain during the fourth quarter worth approximately $348,249,000. TD Asset Management Inc. boosted its position in Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after buying an additional 1,086,308 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Iron Mountain in the fourth quarter worth about $55,271,000. Finally, Invesco Ltd. boosted its holdings in Iron Mountain by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after acquiring an additional 363,783 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays lowered their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $121.29.

Iron Mountain Price Performance

NYSE IRM traded up $3.78 during midday trading on Friday, hitting $95.63. 2,497,499 shares of the company traded hands, compared to its average volume of 1,844,759. The company has a market cap of $28.21 billion, a PE ratio of 156.76, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company's 50-day simple moving average is $85.86 and its 200-day simple moving average is $102.43.

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

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.28%. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.

Insider Activity

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,370,872 over the last three months. Insiders own 2.10% of the company's stock.

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.