Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by abrdn plc

abrdn plc boosted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 34.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,884 shares of the financial services provider's stock after buying an additional 58,480 shares during the period. abrdn plc owned approximately 0.08% of Iron Mountain worth $15,947,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in Iron Mountain by 1.7% in the 4th quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider's stock valued at $612,000 after buying an additional 156 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Iron Mountain by 17.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider's stock worth $82,000 after acquiring an additional 171 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider's stock worth $382,000 after acquiring an additional 177 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Iron Mountain by 4.0% during the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider's stock worth $322,000 after acquiring an additional 179 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in Iron Mountain by 4.6% in the third quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 188 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on IRM shares. TheStreet cut Iron Mountain from a "b" rating to a "c" rating in a research note on Thursday, February 22nd. Barclays increased their price target on Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. Wells Fargo & Company upped their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus increased their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain has an average rating of "Moderate Buy" and an average target price of $73.80.

Iron Mountain Price Performance

NYSE:IRM traded down $0.90 during trading hours on Thursday, reaching $77.29. 1,124,969 shares of the company were exchanged, compared to its average volume of 1,408,641. The business has a 50 day moving average of $77.27 and a 200 day moving average of $69.16. The company has a market capitalization of $22.65 billion, a P/E ratio of 122.68, a P/E/G ratio of 4.61 and a beta of 0.94. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Research analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain's dividend payout ratio is presently 412.70%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the sale, the executive vice president now owns 48,026 shares of the company's stock, valued at approximately $3,238,393.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Deborah Marson sold 2,000 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the sale, the executive vice president now owns 48,026 shares of the company's stock, valued at approximately $3,238,393.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 115,979 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by corporate insiders.

Iron Mountain 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.