Price T Rowe Associates Inc. MD Buys 57,104 Shares of Iron Mountain Incorporated (NYSE:IRM)

Price T Rowe Associates Inc. MD increased its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 877,238 shares of the financial services provider's stock after purchasing an additional 57,104 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.30% of Iron Mountain worth $92,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% during the fourth 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 period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after buying an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $53,000. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price 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 dropped their target price 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. Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $121.29.

Iron Mountain Price Performance

Shares of IRM traded up $3.78 during trading hours on Friday, hitting $95.63. 1,923,600 shares of the stock were exchanged, compared to its average volume of 1,844,697. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The business has a 50-day moving average of $85.86 and a 200-day moving average of $102.43. The firm has a market capitalization of $28.21 billion, a P/E ratio of 156.76, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results 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 negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $1.10 EPS. The business's revenue was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a dividend of $0.785 per share. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.28%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is currently 514.75%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain 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 disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock valued at $29,370,872 in the last three months. Corporate insiders own 2.10% of the company's stock.

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.