Border to Coast Pensions Partnership Ltd Boosts Stake in Iron Mountain Incorporated (NYSE:IRM)

Border to Coast Pensions Partnership Ltd grew its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 480,000 shares of the financial services provider's stock after purchasing an additional 20,000 shares during the period. Border to Coast Pensions Partnership Ltd owned approximately 0.16% of Iron Mountain worth $41,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealthfront Advisers LLC raised its stake in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after acquiring an additional 6,795,792 shares during the period. Norges Bank acquired a new stake in Iron Mountain in the 4th quarter valued at approximately $348,249,000. Northern Trust Corp increased its holdings in Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after purchasing an additional 1,554,746 shares during the last quarter. TD Asset Management Inc. raised its position in Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in Iron Mountain by 439.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock worth $126,201,000 after purchasing an additional 978,251 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

IRM stock opened at $101.05 on Friday. The business's 50-day moving average is $96.99 and its two-hundred day moving average is $96.51. The firm has a market capitalization of $29.81 billion, a P/E ratio of 246.46 and a beta of 1.09. 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 the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter last year, the company earned $1.10 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. On average, analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Insider Transactions at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total value of $807,383.72. Following the completion of the transaction, the executive vice president now owns 70,114 shares in the company, valued at approximately $6,740,759.96. This represents a 10.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the sale, the director now owns 36,515 shares in the company, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,673 shares of company stock valued at $20,319,408. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IRM. Barclays boosted their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Finally, Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $121.71.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.