BI Asset Management Fondsmaeglerselskab A S Sells 3,396 Shares of Iron Mountain Incorporated (NYSE:IRM)

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,768 shares of the financial services provider's stock after selling 3,396 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Iron Mountain were worth $1,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Key Financial Inc lifted its stake in shares of Iron Mountain by 25,100.0% in the 4th 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 during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the fourth quarter valued at about $26,000. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the fourth quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 purchasing an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $53,000. Institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRM. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Truist Financial initiated coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays decreased their price target 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. Finally, Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of "Buy" and a consensus price target of $121.29.

Iron Mountain Stock Performance

Shares of IRM stock traded up $0.13 during trading hours on Monday, hitting $87.85. 244,363 shares of the company were exchanged, compared to its average volume of 1,830,273. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The company has a 50 day simple moving average of $86.08 and a two-hundred day simple moving average of $103.04. The firm has a market cap of $25.91 billion, a P/E ratio of 143.95, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the firm posted $0.52 earnings per share. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.57%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. Iron Mountain's dividend payout ratio is presently 514.75%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock worth $29,370,872 in 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.