3,263,663 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Norges Bank

Norges Bank bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,263,663 shares of the financial services provider's stock, valued at approximately $228,391,000. Norges Bank owned about 1.12% of Iron Mountain as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IRM. Wellington Management Group LLP boosted its holdings in Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider's stock valued at $179,079,000 after acquiring an additional 2,286,711 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider's stock valued at $285,960,000 after buying an additional 1,546,592 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Iron Mountain by 214.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider's stock valued at $103,744,000 after buying an additional 1,178,754 shares during the period. Invesco Ltd. boosted its stake in shares of Iron Mountain by 49.7% in the 3rd quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider's stock valued at $192,822,000 after buying an additional 1,077,339 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider's stock valued at $145,879,000 after buying an additional 772,988 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iron Mountain news, Director Wendy J. Murdock sold 3,547 shares of the business's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.60, for a total transaction of $275,247.20. Following the sale, the director now directly owns 20,944 shares in the company, valued at $1,625,254.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Mark Kidd sold 4,458 shares of the business's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the transaction, the executive vice president now directly owns 62,938 shares of the company's stock, valued at $5,048,256.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 3,547 shares of the business's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.60, for a total value of $275,247.20. Following the completion of the transaction, the director now directly owns 20,944 shares of the company's stock, valued at $1,625,254.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,296 shares of company stock worth $12,023,923. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Iron Mountain Stock Performance

Shares of IRM stock traded down $1.84 during midday trading on Wednesday, hitting $81.01. The company had a trading volume of 1,243,222 shares, compared to its average volume of 1,400,980. The company's 50 day simple moving average is $78.46 and its 200 day simple moving average is $71.82. Iron Mountain Incorporated has a 52-week low of $52.81 and a 52-week high of $83.00. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 122.74, a PEG ratio of 4.91 and a beta of 0.96. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly 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). Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 3.21%. Iron Mountain's payout ratio is 393.95%.

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.