State of Tennessee Department of Treasury decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,451 shares of the financial services provider's stock after selling 4,154 shares during the quarter. State of Tennessee Department of Treasury's holdings in Iron Mountain were worth $9,507,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealthfront Advisers LLC boosted its position in Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after buying an additional 6,795,792 shares in the last quarter. Norges Bank acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $348,249,000. TD Asset Management Inc. lifted its holdings in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after purchasing an additional 1,086,308 shares during the period. Raymond James Financial Inc. bought a new position in Iron Mountain during the 4th quarter worth approximately $55,271,000. Finally, Invesco Ltd. boosted its stake in shares of Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after purchasing an additional 363,783 shares during the last quarter. Institutional investors own 80.13% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on IRM. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company lowered their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Truist Financial started coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. Finally, StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $121.29.
View Our Latest Research Report on IRM
Iron Mountain Price Performance
Shares of IRM traded up $0.14 during midday trading on Tuesday, hitting $88.61. 391,238 shares of the company traded hands, compared to its average volume of 1,829,408. The stock has a 50-day moving average of $85.99 and a 200-day moving average of $102.82. The firm has a market cap of $26.14 billion, a P/E ratio of 145.25, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.
Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS 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. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Monday, March 17th. Iron Mountain's payout ratio is currently 514.75%.
Insider Buying and Selling
In other news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,973 shares of company stock worth $29,370,872. Corporate insiders own 2.10% of the company's stock.
Iron Mountain Company Profile
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Free Report)
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.
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