Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 743,548 shares of the financial services provider's stock after purchasing an additional 46,060 shares during the quarter. Hsbc Holdings PLC owned about 0.25% of Iron Mountain worth $78,000,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wealthfront Advisers LLC boosted its holdings in Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after acquiring an additional 6,795,792 shares during the last quarter. Norges Bank acquired a new position in shares of Iron Mountain in the 4th quarter valued at about $348,249,000. TD Asset Management Inc. grew its holdings 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 worth $205,220,000 after purchasing an additional 1,086,308 shares during the period. Raymond James Financial Inc. acquired a new stake in Iron Mountain during the 4th quarter worth approximately $55,271,000. Finally, Invesco Ltd. lifted its position in Iron Mountain by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after buying an additional 363,783 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 0.2 %

IRM stock traded up $0.14 during trading on Tuesday, hitting $88.61. 391,238 shares of the company's stock traded hands, compared to its average volume of 1,829,408. The stock has a fifty day moving average price of $85.99 and a two-hundred day moving average price of $102.82. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a market capitalization of $26.14 billion, a price-to-earnings ratio of 145.25, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company earned $0.52 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were paid a dividend of $0.785 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, March 17th. Iron Mountain's dividend payout ratio is presently 514.75%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 over the last three months. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.