Barclays PLC Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Barclays PLC reduced its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 31.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 405,421 shares of the financial services provider's stock after selling 185,881 shares during the quarter. Barclays PLC owned about 0.14% of Iron Mountain worth $42,615,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Key Financial Inc increased its position in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the fourth quarter worth about $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain in the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in shares of Iron Mountain in the 4th quarter worth approximately $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Up 3.2 %

Shares of Iron Mountain stock traded up $2.63 on Wednesday, reaching $85.66. The company's stock had a trading volume of 200,936 shares, compared to its average volume of 1,821,636. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm's fifty day simple moving average is $86.62 and its two-hundred day simple moving average is $103.84. The company has a market capitalization of $25.16 billion, a price-to-earnings ratio of 140.43, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.67%. Iron Mountain's dividend payout ratio is 514.75%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. Barclays lowered their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. 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 report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $121.29.

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.