USS Investment Management Ltd cut its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wealthfront Advisers LLC increased its position in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. Northern Trust Corp raised its stake in Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after acquiring an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP boosted its position in Iron Mountain by 0.4% during the fourth 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 period. Charles Schwab Investment Management Inc. increased its stake in shares of Iron Mountain by 2.7% in the fourth 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Iron Mountain during the 4th quarter valued at approximately $348,249,000. 80.13% of the stock is owned by hedge funds and other institutional investors.
Iron Mountain Stock Up 1.3%
Shares of Iron Mountain stock traded up $1.29 on Tuesday, hitting $97.50. The stock had a trading volume of 876,824 shares, compared to its average volume of 1,991,338. The stock's 50-day simple moving average is $89.14 and its two-hundred day simple moving average is $99.03. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of 159.80, a PEG ratio of 5.15 and a beta of 1.08.
Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results 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. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $1.10 earnings per share. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.
Iron Mountain Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Monday, June 16th. Iron Mountain's payout ratio is currently 765.85%.
Insider Buying and Selling at Iron Mountain
In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain 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 $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays upped their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday. 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 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price 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 investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of "Buy" and an average price target of $121.71.
Get Our Latest Report on IRM
Iron Mountain Profile
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Free Report)
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.
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