Investment Management Corp of Ontario Has $3.25 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Investment Management Corp of Ontario decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 15.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,944 shares of the financial services provider's stock after selling 5,768 shares during the period. Investment Management Corp of Ontario's holdings in Iron Mountain were worth $3,253,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC acquired a new position in Iron Mountain in the 4th quarter valued at $3,644,000. Gotham Asset Management LLC raised its holdings in Iron Mountain by 6.3% in the 4th quarter. Gotham Asset Management LLC now owns 86,557 shares of the financial services provider's stock valued at $9,098,000 after acquiring an additional 5,153 shares in the last quarter. Focus Partners Wealth raised its holdings in Iron Mountain by 269.7% in the 4th quarter. Focus Partners Wealth now owns 122,184 shares of the financial services provider's stock valued at $12,881,000 after acquiring an additional 89,131 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Iron Mountain by 3.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 232,200 shares of the financial services provider's stock valued at $24,407,000 after acquiring an additional 7,759 shares in the last quarter. Finally, Ethic Inc. raised its holdings in Iron Mountain by 26.9% in the 4th quarter. Ethic Inc. now owns 60,582 shares of the financial services provider's stock valued at $6,368,000 after acquiring an additional 12,846 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock valued at $29,112,345 over the last quarter. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IRM shares. Truist Financial started coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Barclays decreased 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. Finally, StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Iron Mountain has an average rating of "Buy" and an average price target of $121.29.

Iron Mountain Trading Up 2.3%

IRM traded up $2.24 on Thursday, reaching $99.38. The stock had a trading volume of 1,399,427 shares, compared to its average volume of 1,844,200. The company has a market capitalization of $29.32 billion, a price-to-earnings ratio of 162.92, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. 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 50-day moving average of $87.24 and a 200-day moving average of $100.71.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data 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 negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is currently 765.85%.

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.