NorthRock Partners LLC Has $522,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

NorthRock Partners LLC boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 126.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,967 shares of the financial services provider's stock after buying an additional 2,771 shares during the quarter. NorthRock Partners LLC's holdings in Iron Mountain were worth $522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Nuveen Asset Management LLC grew its position in Iron Mountain by 39.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after purchasing an additional 715,024 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Iron Mountain by 20.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 12,192 shares of the financial services provider's stock valued at $1,282,000 after buying an additional 2,073 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Iron Mountain by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,618 shares of the financial services provider's stock valued at $3,008,000 after buying an additional 1,421 shares during the period. Laird Norton Wetherby Wealth Management LLC grew its position in Iron Mountain by 3.2% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,230 shares of the financial services provider's stock worth $970,000 after buying an additional 289 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in Iron Mountain during the fourth quarter worth about $3,644,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other Iron Mountain news, 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 transaction of $6,642,221.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 1,738 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 $161,355.92. Following the completion of the sale, 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. Over the last 90 days, insiders sold 318,973 shares of company stock valued at $29,112,345. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IRM. 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Wells Fargo & Company decreased their price objective 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. Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target for the company. Finally, 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 note on Tuesday, February 18th. One equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $121.29.

Iron Mountain Stock Down 0.5%

NYSE IRM traded down $0.51 during trading on Tuesday, reaching $100.55. 1,056,332 shares of the stock traded hands, compared to its average volume of 1,843,879. The firm has a market cap of $29.67 billion, a price-to-earnings ratio of 164.84, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock's 50-day moving average price is $88.18 and its 200 day moving average price is $99.83.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. Analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

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.