Rhumbline Advisers Has $57.13 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Rhumbline Advisers boosted its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 664,001 shares of the financial services provider's stock after purchasing an additional 26,795 shares during the quarter. Rhumbline Advisers owned about 0.23% of Iron Mountain worth $57,131,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IRM. Somerset Trust Co increased its stake in shares of Iron Mountain by 17.4% in the 1st quarter. Somerset Trust Co now owns 5,501 shares of the financial services provider's stock valued at $473,000 after acquiring an additional 816 shares during the last quarter. Delphi Management Inc. MA increased its stake in Iron Mountain by 12.2% in the first quarter. Delphi Management Inc. MA now owns 15,155 shares of the financial services provider's stock valued at $1,304,000 after purchasing an additional 1,644 shares in the last quarter. GAMMA Investing LLC increased its stake in Iron Mountain by 7,794.5% in the first quarter. GAMMA Investing LLC now owns 341,751 shares of the financial services provider's stock valued at $29,404,000 after purchasing an additional 337,422 shares in the last quarter. Franchise Capital Ltd acquired a new stake in Iron Mountain in the first quarter worth $39,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Iron Mountain by 2.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,078 shares of the financial services provider's stock worth $609,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Analysts Set New Price Targets

IRM has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. JPMorgan Chase & Co. dropped 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. Finally, Barclays boosted their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One research 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. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and an average target price of $121.71.

Iron Mountain Trading Up 1.0%

Shares of Iron Mountain stock traded up $1.00 during trading on Thursday, reaching $101.21. The stock had a trading volume of 1,465,327 shares, compared to its average volume of 1,863,343. The company has a market capitalization of $29.86 billion, a price-to-earnings ratio of 165.92, a P/E/G ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a fifty day moving average price of $90.72 and a two-hundred day moving average price of $98.46.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.10%. Iron Mountain's payout ratio is presently 765.85%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $98.77, for a total value of $6,827,476.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of the company's 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 sale, the executive vice president now directly owns 70,114 shares in the company, 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 a total of 215,773 shares of company stock worth $20,229,435 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

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.