Ethic Inc. Boosts Stake in Iron Mountain Incorporated (NYSE:IRM)

Ethic Inc. increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,582 shares of the financial services provider's stock after acquiring an additional 12,846 shares during the quarter. Ethic Inc.'s holdings in Iron Mountain were worth $6,368,000 at the end of the most recent quarter.

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

Iron Mountain Stock Down 0.5%

Shares of NYSE:IRM traded down $0.52 on Tuesday, hitting $97.42. The company had a trading volume of 1,173,631 shares, compared to its average volume of 1,845,199. The firm's 50-day simple moving average is $86.70 and its two-hundred day simple moving average is $100.76. The firm has a market capitalization of $28.74 billion, a price-to-earnings ratio of 159.70, a P/E/G ratio of 5.15 and a beta of 1.08. 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 quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The company 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 revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current 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 given a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.22%. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Barclays decreased their target price 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. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Finally, StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and a consensus target price of $121.29.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at $21,681,924.66. This represents a 42.09% 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 the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,973 shares of company stock worth $29,112,345. 2.10% of the stock is 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.