Xponance Inc. Has $6.94 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Xponance Inc. lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,614 shares of the financial services provider's stock after selling 17,784 shares during the quarter. Xponance Inc.'s holdings in Iron Mountain were worth $6,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Iron Mountain in the fourth quarter worth approximately $348,249,000. Northern Trust Corp lifted its position in Iron Mountain by 56.1% in the fourth 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 period. TD Asset Management Inc. lifted its position in shares of Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after acquiring an additional 1,086,308 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after acquiring an additional 978,251 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Iron Mountain by 39.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock valued at $267,922,000 after acquiring an additional 715,024 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the transaction, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,007 shares of company stock valued at $23,649,959. 1.90% of the stock is owned by insiders.

Iron Mountain Trading Down 1.0%

NYSE:IRM traded down $1.03 during trading hours on Friday, hitting $97.93. 1,057,349 shares of the stock traded hands, compared to its average volume of 1,785,445. The firm has a 50 day moving average price of $99.85 and a 200 day moving average price of $95.83. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of 238.85 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $1.10 EPS. The company's revenue was up 7.9% on a year-over-year basis. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Barclays increased 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. Finally, Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target 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.