Mercer Global Advisors Inc. ADV Has $9.14 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Mercer Global Advisors Inc. ADV raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 37.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,955 shares of the financial services provider's stock after purchasing an additional 23,609 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Iron Mountain were worth $9,140,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IRM. Key Financial Inc raised its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the 4th quarter valued at $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the fourth quarter worth $26,000. Whittier Trust Co. of Nevada Inc. increased its position in Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after buying an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in Iron Mountain during the fourth quarter valued at about $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Truist Financial started coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. JPMorgan Chase & Co. lowered their target price 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. Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. Finally, StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $121.29.

Iron Mountain Stock Performance

Shares of IRM traded up $0.26 during trading hours on Wednesday, reaching $97.18. 1,752,755 shares of the company traded hands, compared to its average volume of 1,840,361. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market cap of $28.66 billion, a P/E ratio of 159.31, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. The stock's fifty day moving average is $86.12 and its 200 day moving average is $101.71.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates 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 for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 EPS. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.23%. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total transaction of $6,642,221.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. 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 quarter. 2.10% of the stock is owned by company insiders.

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.