Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 34,675 shares of the financial services provider's stock, valued at approximately $3,644,000. Iron Mountain accounts for approximately 1.4% of Investor s Fiduciary Advisor Network LLC's investment portfolio, making the stock its 14th largest position.
Several other large investors have also recently added to or reduced their stakes in IRM. Principal Financial Group Inc. boosted its position in Iron Mountain by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider's stock valued at $41,882,000 after buying an additional 11,685 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Iron Mountain by 2.5% in the fourth quarter. Nordea Investment Management AB now owns 27,961 shares of the financial services provider's stock worth $2,907,000 after acquiring an additional 685 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Iron Mountain by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,383 shares of the financial services provider's stock valued at $4,455,000 after purchasing an additional 446 shares during the last quarter. Czech National Bank grew its stake in Iron Mountain by 6.5% during the 4th quarter. Czech National Bank now owns 63,628 shares of the financial services provider's stock valued at $6,688,000 after purchasing an additional 3,873 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in Iron Mountain by 33.8% during the 4th quarter. Brookstone Capital Management now owns 122,859 shares of the financial services provider's stock worth $12,914,000 after purchasing an additional 31,064 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.
Iron Mountain Trading Up 1.2%
IRM traded up $1.19 on Friday, hitting $100.69. 1,706,899 shares of the company's stock were exchanged, compared to its average volume of 1,846,746. The stock has a fifty day moving average of $87.57 and a two-hundred day moving average of $100.51. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The firm has a market cap of $29.71 billion, a PE ratio of 165.06, a P/E/G ratio of 5.15 and a beta of 1.08.
Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly 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. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. On average, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.
Iron Mountain Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. 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 dividend payout ratio (DPR) is 765.85%.
Analyst Ratings Changes
Several research firms have recently commented on IRM. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company cut their target price 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. Finally, Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. One research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $121.29.
View Our Latest Report on Iron Mountain
Insider Transactions at Iron Mountain
In other 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 owns 288 shares of the company's stock, valued at approximately $26,737.92. The trade was a 95.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred 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. Over the last quarter, insiders sold 318,973 shares of company stock worth $29,112,345. Insiders own 2.10% of the company's stock.
About Iron Mountain
(
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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