ING Groep NV Sells 31,666 Shares of Iron Mountain Incorporated (NYSE:IRM)

ING Groep NV trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 86.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,074 shares of the financial services provider's stock after selling 31,666 shares during the period. ING Groep NV's holdings in Iron Mountain were worth $355,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 156 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings 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 valued at $82,000 after acquiring an additional 171 shares in 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 purchasing an additional 179 shares during the period. Harbor Investment Advisory LLC lifted its holdings in shares of Iron Mountain by 48.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider's stock worth $43,000 after purchasing an additional 201 shares in the last quarter. Finally, Wambolt & Associates LLC increased its stake in Iron Mountain by 0.8% during the 3rd quarter. Wambolt & Associates LLC now owns 27,212 shares of the financial services provider's stock valued at $1,597,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IRM. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, March 15th. Barclays lifted their price target on Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. Finally, TheStreet downgraded Iron Mountain from a "b" rating to a "c" rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $73.80.

Iron Mountain Stock Down 2.0 %

Shares of IRM traded down $1.65 during trading hours on Thursday, reaching $79.31. 1,280,676 shares of the stock traded hands, compared to its average volume of 1,399,776. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $83.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a fifty day simple moving average of $78.46 and a 200 day simple moving average of $71.82. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 122.74, a PEG ratio of 4.96 and a beta of 0.96.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. Iron Mountain's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 3.28%. Iron Mountain's dividend payout ratio is currently 393.95%.

Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company's stock, valued at approximately $247,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Wendy J. Murdock sold 3,547 shares of Iron Mountain stock in a transaction dated 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 sale, the director now owns 20,944 shares of the company's stock, valued at approximately $1,625,254.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Daniel Borges sold 996 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares of the company's stock, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders sold 153,296 shares of company stock worth $12,023,923 in the last quarter. 2.10% of the stock is currently owned by company insiders.

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.