BROOKFIELD Corp ON Sells 6,181 Shares of Iron Mountain Incorporated (NYSE:IRM)

BROOKFIELD Corp ON lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 35.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,124 shares of the financial services provider's stock after selling 6,181 shares during the period. BROOKFIELD Corp ON's holdings in Iron Mountain were worth $1,169,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays lowered 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 report on Thursday, March 20th. Wells Fargo & Company cut their price objective 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. Finally, Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. One investment 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 stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of "Buy" and a consensus target price of $121.29.

Iron Mountain Stock Performance

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

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the business's 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 completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is currently owned by corporate insiders.

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.