Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,877 shares of the financial services provider's stock after acquiring an additional 12,801 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Iron Mountain worth $16,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Warm Springs Advisors Inc. acquired a new position in shares of Iron Mountain during the 4th quarter worth $271,000. GF Fund Management CO. LTD. bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $560,000. Neo Ivy Capital Management bought a new position in Iron Mountain in the fourth quarter worth approximately $81,000. RB Capital Management LLC raised its stake in shares of Iron Mountain by 0.3% in the fourth quarter. RB Capital Management LLC now owns 46,340 shares of the financial services provider's stock worth $4,871,000 after purchasing an additional 156 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC raised its stake in shares of Iron Mountain by 215.9% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 7,165 shares of the financial services provider's stock worth $753,000 after purchasing an additional 4,897 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other Iron Mountain 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 owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction that occurred on 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 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 position. 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 ninety days. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

NYSE IRM traded up $0.83 during trading on Friday, hitting $98.63. The stock had a trading volume of 4,731,334 shares, compared to its average volume of 1,864,432. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 161.69, a P/E/G ratio of 5.15 and a beta of 1.08. The stock has a 50 day simple moving average of $89.66 and a 200 day simple moving average of $98.87. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

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

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is currently 765.85%.

Analyst Upgrades and Downgrades

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

Iron Mountain Company 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.