BNP Paribas Financial Markets Reduces Position in Iron Mountain Incorporated (NYSE:IRM)

BNP Paribas Financial Markets decreased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497,147 shares of the financial services provider's stock after selling 22,187 shares during the quarter. BNP Paribas Financial Markets owned about 0.17% of Iron Mountain worth $52,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Iron Mountain by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider's stock worth $41,882,000 after acquiring an additional 11,685 shares in the last quarter. Nordea Investment Management AB grew its stake in Iron Mountain by 2.5% in the fourth quarter. Nordea Investment Management AB now owns 27,961 shares of the financial services provider's stock worth $2,907,000 after purchasing an additional 685 shares during the period. Fortitude Family Office LLC raised its holdings in Iron Mountain by 1.7% in the fourth quarter. Fortitude Family Office LLC now owns 8,695 shares of the financial services provider's stock worth $914,000 after purchasing an additional 147 shares in the last quarter. ORG Partners LLC lifted its position in Iron Mountain by 178.6% during the fourth quarter. ORG Partners LLC now owns 15,609 shares of the financial services provider's stock valued at $1,641,000 after buying an additional 10,006 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Iron Mountain by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,383 shares of the financial services provider's stock valued at $4,455,000 after buying an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Buying and Selling

In other news, CAO Daniel Borges sold 6,433 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 $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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 $21,681,924.66. The trade was a 42.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock worth $29,112,345. 2.10% of the stock is owned by insiders.

Iron Mountain Trading Up 1.0%

IRM traded up $0.95 during trading on Monday, hitting $98.02. 422,281 shares of the company's stock traded hands, compared to its average volume of 1,842,520. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 160.73, a PEG ratio of 5.15 and a beta of 1.08. The company's 50 day simple moving average is $86.50 and its two-hundred day simple moving average is $100.97. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.59 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.10 EPS. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors 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 dividend on an annualized basis and a yield of 3.20%. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Truist Financial assumed 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. Finally, Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report 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. Based on data from MarketBeat, Iron Mountain currently has an average rating of "Buy" and an average target price of $121.29.

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.