Iron Mountain Incorporated (NYSE:IRM) Holdings Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 117.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 904,184 shares of the financial services provider's stock after purchasing an additional 488,816 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of Iron Mountain worth $77,796,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IRM. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter worth about $26,000. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new position in Iron Mountain during the 1st quarter worth $30,000. Franchise Capital Ltd bought a new position in Iron Mountain during the 1st quarter worth $39,000. Finally, Crewe Advisors LLC grew its stake in Iron Mountain by 10,000.0% during the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $1.92 on Friday, hitting $101.53. The company's stock had a trading volume of 914,630 shares, compared to its average volume of 1,800,671. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 247.62 and a beta of 1.08. The stock's 50-day moving average is $99.01 and its two-hundred day moving average is $96.02.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) 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 company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were issued a $0.785 dividend. The ex-dividend date was Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.09%. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Analysts Set New Price Targets

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

Insider Transactions at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the sale, the executive vice president owned 91,081 shares in the company, valued at $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,007 shares of company stock worth $23,649,959. Corporate insiders own 1.90% of the company's stock.

About Iron Mountain

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.