Iron Mountain Incorporated (NYSE:IRM) Position Increased by Focus Partners Wealth

Focus Partners Wealth increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 269.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,184 shares of the financial services provider's stock after acquiring an additional 89,131 shares during the quarter. Focus Partners Wealth's holdings in Iron Mountain were worth $12,881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Ensign Peak Advisors Inc increased its stake in shares of Iron Mountain by 3.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 232,200 shares of the financial services provider's stock valued at $24,407,000 after purchasing an additional 7,759 shares during the period. Ethic Inc. increased its stake in shares of Iron Mountain by 26.9% in the fourth quarter. Ethic Inc. now owns 60,582 shares of the financial services provider's stock valued at $6,368,000 after purchasing an additional 12,846 shares during the period. FORA Capital LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $5,132,000. Clark Capital Management Group Inc. increased its stake in shares of Iron Mountain by 22.9% in the fourth quarter. Clark Capital Management Group Inc. now owns 2,776 shares of the financial services provider's stock valued at $292,000 after purchasing an additional 518 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in shares of Iron Mountain by 26.2% in the fourth quarter. EP Wealth Advisors LLC now owns 17,416 shares of the financial services provider's stock valued at $1,831,000 after purchasing an additional 3,619 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Up 1.2%

Iron Mountain stock traded up $1.19 during mid-day trading on Friday, hitting $100.69. The company's stock had a trading volume of 1,706,978 shares, compared to its average volume of 1,848,542. The stock has a market capitalization of $29.71 billion, a P/E ratio of 165.06, a P/E/G ratio of 5.15 and a beta of 1.08. The stock's fifty day moving average price is $87.89 and its two-hundred day moving average price is $99.97. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. Equities 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. Shareholders of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IRM shares. JPMorgan Chase & Co. dropped 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 note on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Truist Financial assumed coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Finally, Barclays lowered their price objective on shares of 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 analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $121.29.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated 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. Insiders have sold a total of 318,973 shares of company stock valued at $29,112,345 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

About Iron Mountain

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.