Vectors Research Management LLC Reduces Stake in Iron Mountain Incorporated (NYSE:IRM)

Vectors Research Management LLC cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,453 shares of the financial services provider's stock after selling 4,979 shares during the period. Iron Mountain comprises 1.4% of Vectors Research Management LLC's portfolio, making the stock its 19th largest holding. Vectors Research Management LLC's holdings in Iron Mountain were worth $4,042,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IRM. M&T Bank Corp raised its stake in Iron Mountain by 0.4% during the third quarter. M&T Bank Corp now owns 88,215 shares of the financial services provider's stock valued at $10,482,000 after purchasing an additional 334 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Iron Mountain during the third quarter valued at $554,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $837,000. Tidal Investments LLC increased its holdings in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock valued at $2,440,000 after acquiring an additional 14,737 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new position in Iron Mountain in the third quarter worth about $10,206,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of the business's 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 transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock valued at $29,370,872. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IRM. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays decreased their target price 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. 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 report on Tuesday, February 4th. Finally, Truist Financial assumed coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. One investment 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, Iron Mountain currently has an average rating of "Buy" and a consensus target price of $121.29.

Iron Mountain Stock Up 3.1 %

IRM stock traded up $2.65 during mid-day trading on Friday, hitting $87.97. 2,097,977 shares of the company were exchanged, compared to its average volume of 1,832,448. The business has a fifty day simple moving average of $86.08 and a 200-day simple moving average of $103.27. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market capitalization of $25.95 billion, a P/E ratio of 144.21, a PEG ratio of 5.15 and a beta of 0.97.

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

Iron Mountain Increases Dividend

The company also recently announced 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. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.57%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is presently 514.75%.

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.