Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,955 shares of the financial services provider’s stock after purchasing an additional 23,609 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Iron Mountain were worth $9,140,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IRM. Wealthfront Advisers LLC increased its holdings in shares of Iron Mountain by 9,843.3% in 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 acquiring an additional 6,795,792 shares during the last quarter. Norges Bank purchased a new position in Iron Mountain in the fourth quarter valued at approximately $348,249,000. Northern Trust Corp raised its holdings in Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Iron Mountain by 125.4% during 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 buying an additional 1,086,308 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at $55,271,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock worth $29,370,872. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 4.1 %

NYSE:IRM opened at $95.63 on Friday. The stock’s 50 day simple moving average is $85.93 and its 200-day simple moving average is $102.10. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market cap of $28.21 billion, a P/E ratio of 156.76, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion during 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%. Iron Mountain’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. Research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Analysts Set New Price Targets

IRM has been the subject of a number of research reports. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price for the company. 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. 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 research report on Tuesday, February 4th. Finally, Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock 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 assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average 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.