Pinebridge Investments L.P. Has $12.54 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Pinebridge Investments L.P. decreased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 24.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,255 shares of the financial services provider's stock after selling 39,400 shares during the quarter. Pinebridge Investments L.P.'s holdings in Iron Mountain were worth $12,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC lifted its stake in Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock valued at $1,570,000 after buying an additional 7,137 shares during the period. Tidal Investments LLC lifted its stake in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock valued at $2,440,000 after buying an additional 14,737 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock valued at $961,000 after purchasing an additional 5,511 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Iron Mountain during the 4th quarter worth approximately $102,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $24,122,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Up 0.3 %

IRM traded up $0.30 during trading hours on Tuesday, hitting $88.77. 419,415 shares of the company's stock were exchanged, compared to its average volume of 1,829,535. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock's 50-day moving average is $85.99 and its two-hundred day moving average is $102.82. The stock has a market cap of $26.18 billion, a price-to-earnings ratio of 145.49, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.54%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is currently 514.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, 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 report on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain has an average rating of "Buy" and an average target price of $121.29.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,370,872 over the last quarter. 2.10% of the stock is currently owned by insiders.

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.