Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,362 shares of the financial services provider's stock after acquiring an additional 4,282 shares during the quarter. Private Advisor Group LLC's holdings in Iron Mountain were worth $8,549,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Northern Trust Corp increased its stake in shares of Iron Mountain by 56.1% in 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 buying an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Iron Mountain by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after acquiring an additional 15,097 shares during the period. Norges Bank bought a new stake in Iron Mountain during the fourth quarter worth $348,249,000. Nuveen Asset Management LLC increased its position in Iron Mountain by 39.0% in the fourth 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 last quarter. Finally, Invesco Ltd. grew its position in shares of Iron Mountain by 17.2% in the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after purchasing an additional 363,783 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director owned 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The disclosure for this sale can be found here. Insiders have sold 240,007 shares of company stock worth $23,649,959 in the last quarter. Company insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

NYSE:IRM traded up $0.68 during trading hours on Tuesday, reaching $99.41. The company's stock had a trading volume of 858,028 shares, compared to its average volume of 1,770,345. The company has a market capitalization of $29.33 billion, a P/E ratio of 242.47 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a 50 day moving average price of $99.98 and a two-hundred day moving average price of $95.54.

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 net margin of 1.97% and a negative return on equity of 201.62%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Monday, June 16th. Iron Mountain's payout ratio is currently 765.85%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IRM shares. Truist Financial started 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. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays upped their price target on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $121.71.

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.