4,924 Shares in Iron Mountain Incorporated (NYSE:IRM) Purchased by Putney Financial Group LLC

Putney Financial Group LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,924 shares of the financial services provider's stock, valued at approximately $518,000.

Other large investors have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $26,000. Key Financial Inc lifted its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This represents a 95.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the completion of the sale, the executive vice president now owns 70,114 shares of the company's stock, valued at $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 sold 327,371 shares of company stock worth $29,919,729 over the last three months. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on IRM. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays upped their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Finally, Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. One equities research 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 MarketBeat.com, Iron Mountain has an average rating of "Buy" and a consensus target price of $121.71.

Iron Mountain Trading Up 1.2%

IRM traded up $1.15 during midday trading on Tuesday, hitting $97.36. 1,466,153 shares of the company traded hands, compared to its average volume of 1,851,872. The company has a market capitalization of $28.73 billion, a price-to-earnings ratio of 159.61, a PEG ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The business has a 50 day simple moving average of $89.32 and a two-hundred day simple moving average of $99.02.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Iron Mountain Profile

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.