Iron Mountain Incorporated (NYSE:IRM) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,702 shares of the financial services provider's stock after selling 22,550 shares during the period. USS Investment Management Ltd's holdings in Iron Mountain were worth $6,277,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC boosted its holdings in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after buying an additional 6,795,792 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Iron Mountain by 0.4% during the 4th 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 last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after purchasing an additional 92,475 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Iron Mountain during the 4th quarter worth approximately $348,249,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded down $0.03 during trading hours on Wednesday, reaching $97.28. 257,752 shares of the company were exchanged, compared to its average volume of 1,845,655. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock's fifty day moving average is $89.32 and its 200 day moving average is $99.02. The firm has a market cap of $28.70 billion, a PE ratio of 159.49, a PEG ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.23%. Iron Mountain's payout ratio is currently 765.85%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg W. Mcintosh sold 8,398 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 70,114 shares of the company's stock, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,371 shares of company stock worth $29,919,729. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. 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. Barclays boosted their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $121.71.

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.