Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,341 shares of the financial services provider's stock after selling 12,992 shares during the period. Voya Investment Management LLC's holdings in Iron Mountain were worth $14,436,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wealthfront Advisers LLC increased its stake in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Norges Bank acquired a new position in shares of Iron Mountain in the 4th quarter valued at $348,249,000. TD Asset Management Inc. raised its holdings in Iron Mountain by 125.4% in the 4th 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. purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $55,271,000. Finally, Invesco Ltd. increased its holdings in Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after acquiring an additional 363,783 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 2.5 %

IRM traded up $2.21 on Thursday, hitting $91.88. 2,780,263 shares of the company were exchanged, compared to its average volume of 1,844,801. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The firm has a 50-day moving average price of $85.85 and a two-hundred day moving average price of $102.63. The company has a market cap of $27.10 billion, a price-to-earnings ratio of 150.62, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating 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 company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same period last year, the firm earned $1.10 earnings per share. Iron Mountain's quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current 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 given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 514.75%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at $21,681,924.66. The trade was a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the company'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 disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 in the last ninety days. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price 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. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. Finally, StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $121.29.

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.