Iron Mountain Incorporated (NYSE:IRM) Stake Raised by Oak Thistle LLC

Oak Thistle LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 189.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,886 shares of the financial services provider's stock after buying an additional 13,665 shares during the quarter. Oak Thistle LLC's holdings in Iron Mountain were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Northern Trust Corp grew its position in shares of Iron Mountain by 56.1% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Iron Mountain by 0.4% in 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 purchasing an additional 15,097 shares during the period. Norges Bank acquired a new position in Iron Mountain in the fourth quarter worth $348,249,000. Nuveen Asset Management LLC boosted its holdings 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 purchasing an additional 715,024 shares during the period. Finally, Invesco Ltd. boosted its holdings in Iron Mountain by 17.2% in the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after purchasing an additional 363,783 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Up 0.5%

IRM stock traded up $0.50 during mid-day trading on Friday, reaching $99.27. The company had a trading volume of 654,672 shares, compared to its average volume of 1,399,010. The stock has a market capitalization of $29.29 billion, a P/E ratio of 242.11 and a beta of 1.08. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The stock's 50-day simple moving average is $100.04 and its two-hundred day simple moving average is $95.50.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.59 billion. During the same period last year, the business posted $1.10 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

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

Insider Activity at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the sale, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The shares were 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 valued at $23,649,959 in the last ninety days. Company insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IRM shares. Barclays lifted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain presently has a consensus 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.