ProShare Advisors LLC Grows Stock Position in Iron Mountain Incorporated (NYSE:IRM)

ProShare Advisors LLC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,429 shares of the financial services provider's stock after purchasing an additional 3,630 shares during the period. ProShare Advisors LLC's holdings in Iron Mountain were worth $5,616,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IRM. Key Financial Inc grew its position in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the 4th quarter worth about $26,000. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the 4th quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its position in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after purchasing an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new stake in Iron Mountain during the 4th quarter worth about $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Iron Mountain stock traded up $0.42 during midday trading on Friday, reaching $96.22. The company had a trading volume of 911,060 shares, compared to its average volume of 1,853,421. The company has a market capitalization of $28.39 billion, a P/E ratio of 157.74, a P/E/G ratio of 5.15 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 firm's fifty day simple moving average is $88.99 and its 200-day simple moving average is $99.32.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The firm 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% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. On average, analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio is presently 765.85%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at $21,681,924.66. This trade represents a 42.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IRM. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays dropped their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and a consensus target price of $121.29.

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.