Siemens Fonds Invest GmbH Sells 30,765 Shares of Iron Mountain Incorporated (NYSE:IRM)

Siemens Fonds Invest GmbH lessened its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 91.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,767 shares of the financial services provider's stock after selling 30,765 shares during the period. Siemens Fonds Invest GmbH's holdings in Iron Mountain were worth $291,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IRM. Wealthfront Advisers LLC grew its stake in Iron Mountain by 9,843.3% during the fourth 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 in the last quarter. Norges Bank bought a new stake in Iron Mountain during the 4th quarter valued at about $348,249,000. Northern Trust Corp raised its position in shares of 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 worth $454,756,000 after acquiring an additional 1,554,746 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after buying an additional 1,086,308 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock worth $126,201,000 after acquiring an additional 978,251 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research reports. Barclays lifted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $121.71.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares of the company's stock, valued at approximately $6,740,759.96. This trade represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,371 shares of company stock valued at $29,919,729 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Up 0.8%

Shares of IRM stock traded up $0.83 during trading hours on Friday, reaching $98.63. 4,731,334 shares of the stock traded hands, compared to its average volume of 1,865,747. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The business has a fifty day moving average price of $89.88 and a 200 day moving average price of $98.76. The firm has a market capitalization of $29.10 billion, a PE ratio of 161.69, a PEG ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS 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 analyst estimates of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. Iron Mountain's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 EPS. Research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed 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 3.18%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is currently 765.85%.

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.