First Trust Advisors LP Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

First Trust Advisors LP cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,258 shares of the financial services provider's stock after selling 31,598 shares during the quarter. First Trust Advisors LP owned about 0.07% of Iron Mountain worth $23,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. World Investment Advisors LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $554,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $837,000. Tidal Investments LLC grew its stake in Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after buying an additional 14,737 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Iron Mountain during the 3rd quarter worth $10,206,000. Finally, Lord Abbett & CO. LLC purchased a new position in Iron Mountain during the 3rd quarter worth $24,122,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 0.9 %

NYSE IRM traded up $0.81 during trading hours on Wednesday, reaching $89.08. The company had a trading volume of 1,224,289 shares, compared to its average volume of 1,835,130. The stock has a 50-day moving average of $85.89 and a 200 day moving average of $102.72. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market capitalization of $26.28 billion, a P/E ratio of 146.03, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the company earned $0.52 EPS. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is currently 514.75%.

Analyst Ratings Changes

IRM has been the topic of several research analyst reports. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $121.29.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares of the company's stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is currently owned by corporate insiders.

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.