The Manufacturers Life Insurance Company decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,305 shares of the financial services provider's stock after selling 21,343 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Iron Mountain worth $19,793,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of IRM. Wealthfront Advisers LLC lifted its position in shares of 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 worth $721,562,000 after buying an additional 6,795,792 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Iron Mountain by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after purchasing an additional 15,097 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after purchasing an additional 92,475 shares during the period. Norges Bank acquired a new position in Iron Mountain during the fourth quarter valued at approximately $348,249,000. Finally, Invesco Ltd. raised its position in shares of Iron Mountain by 17.2% in the fourth 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 period. Institutional investors and hedge funds own 80.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective 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. Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Finally, StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $121.29.
Check Out Our Latest Research Report on IRM
Iron Mountain Price Performance
Shares of Iron Mountain stock traded down $0.33 during midday trading on Wednesday, hitting $96.59. 679,982 shares of the company were exchanged, compared to its average volume of 1,836,253. The firm has a 50 day simple moving average of $86.12 and a 200-day simple moving average of $101.71. The firm has a market cap of $28.49 billion, a P/E ratio of 159.00, a PEG ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.
Iron Mountain Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.
Insider Transactions at Iron Mountain
In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 $26,737.92. This represents a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred 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. Insiders have sold 318,973 shares of company stock valued at $29,112,345 in the last three months. 2.10% of the stock is owned by corporate insiders.
Iron Mountain 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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