Capital World Investors Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Capital World Investors cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,817,417 shares of the financial services provider's stock after selling 298,552 shares during the period. Capital World Investors owned about 1.30% of Iron Mountain worth $401,249,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IRM. Key Financial Inc lifted 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 worth $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the 4th quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain during the 4th quarter worth $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analyst Weigh In

IRM has been the topic of several research analyst reports. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company lowered 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 note on Tuesday, February 4th. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. Finally, Barclays dropped 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 note on Thursday, March 20th. 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 stock has an average rating of "Buy" and a consensus target price of $121.29.

Insider Activity

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 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 $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock valued at $29,370,872 in the last ninety days. Company insiders own 2.10% of the company's stock.

Iron Mountain Price Performance

IRM stock traded up $2.18 during midday trading on Friday, hitting $87.50. The stock had a trading volume of 868,597 shares, compared to its average volume of 1,824,909. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market cap of $25.81 billion, a PE ratio of 143.74, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The company's 50-day moving average price is $86.20 and its 200 day moving average price is $103.49.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

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.