DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 6,016 Shares of Iron Mountain Incorporated (NYSE:IRM)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,435 shares of the financial services provider's stock after selling 6,016 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Iron Mountain were worth $7,298,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wealthfront Advisers LLC grew its holdings in shares of Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Northern Trust Corp raised its stake in shares of Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after acquiring an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Iron Mountain by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock valued at $443,476,000 after purchasing an additional 15,097 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after acquiring an additional 92,475 shares during the period. Finally, Norges Bank purchased a new position in shares of Iron Mountain during the fourth quarter valued at about $348,249,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IRM has been the topic of several research reports. 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 on the stock. Barclays lowered their price objective on 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 decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $121.29.

Iron Mountain Stock Down 0.5%

Iron Mountain stock traded down $0.52 during trading hours on Tuesday, hitting $97.42. The stock had a trading volume of 1,173,631 shares, compared to its average volume of 1,845,199. The stock's 50-day moving average price is $86.70 and its 200-day moving average price is $100.76. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The stock has a market capitalization of $28.74 billion, a P/E ratio of 159.70, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.22%. Iron Mountain's payout ratio is 765.85%.

Insider Buying and Selling at Iron Mountain

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 69,125 shares of Iron Mountain stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock worth $29,112,345. Company insiders own 2.10% of the company's stock.

Iron Mountain 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.