Nuveen Asset Management LLC Grows Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Nuveen Asset Management LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 39.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,548,970 shares of the financial services provider's stock after acquiring an additional 715,024 shares during the period. Nuveen Asset Management LLC owned approximately 0.87% of Iron Mountain worth $267,922,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on IRM. Wells Fargo & Company cut 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. Barclays reduced their price target 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. JPMorgan Chase & Co. dropped their price objective 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. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Truist Financial started coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $121.29.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. 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 Iron Mountain stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,973 shares of company stock valued at $29,112,345. Company insiders own 2.10% of the company's stock.

Iron Mountain Stock Down 0.9%

Shares of NYSE:IRM traded down $0.90 during trading on Tuesday, hitting $100.16. 171,165 shares of the stock traded hands, compared to its average volume of 2,018,631. The company has a fifty day moving average price of $88.18 and a two-hundred day moving average price of $99.83. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company has a market cap of $29.55 billion, a price-to-earnings ratio of 164.20, a P/E/G ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The company's revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio 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.