IFM Investors Pty Ltd Has $11.02 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

IFM Investors Pty Ltd grew its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,021 shares of the financial services provider's stock after purchasing an additional 5,198 shares during the quarter. IFM Investors Pty Ltd's holdings in Iron Mountain were worth $11,015,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wealthfront Advisers LLC increased its position in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after buying an additional 6,795,792 shares during the period. Northern Trust Corp increased its position in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after buying an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP increased 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 worth $443,476,000 after buying an additional 15,097 shares during the period. Norges Bank bought a new position in Iron Mountain during the 4th quarter worth $348,249,000. Finally, Nuveen Asset Management LLC increased its position in Iron Mountain by 39.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after buying an additional 715,024 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total value of $6,937,385.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the transaction, the executive vice president owned 35,446 shares of the company's stock, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 240,007 shares of company stock valued at $23,649,959 over the last quarter. 1.90% of the stock is currently owned by insiders.

Iron Mountain Trading Down 0.7%

NYSE IRM traded down $0.67 on Tuesday, hitting $99.65. 1,059,575 shares of the company's stock were exchanged, compared to its average volume of 1,797,350. The stock has a 50-day moving average of $99.47 and a 200-day moving average of $95.97. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a market cap of $29.40 billion, a price-to-earnings ratio of 243.05 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last released its 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. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

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.