BROOKFIELD Corp ON Sells 6,181 Shares of Iron Mountain Incorporated (NYSE:IRM)

BROOKFIELD Corp ON lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 35.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,124 shares of the financial services provider’s stock after selling 6,181 shares during the quarter. BROOKFIELD Corp ON’s holdings in Iron Mountain were worth $1,169,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. World Investment Advisors LLC acquired a new position in Iron Mountain during the third quarter valued at approximately $554,000. Principal Financial Group Inc. lifted its holdings in shares of Iron Mountain by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock valued at $41,882,000 after purchasing an additional 11,685 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Iron Mountain by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 4,329 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 535 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Iron Mountain by 2.5% in the fourth quarter. Nordea Investment Management AB now owns 27,961 shares of the financial services provider’s stock valued at $2,907,000 after buying an additional 685 shares during the period. Finally, CWA Asset Management Group LLC increased its position in shares of Iron Mountain by 572.0% during the fourth quarter. CWA Asset Management Group LLC now owns 13,568 shares of the financial services provider’s stock worth $1,426,000 after acquiring an additional 11,549 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on IRM. Barclays reduced 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 note on Thursday, March 20th. 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 report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target for the company. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $121.29.

Iron Mountain Trading Up 1.5 %

NYSE IRM opened at $97.18 on Tuesday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a 50 day moving average of $86.01 and a 200-day moving average of $101.74. The company has a market cap of $28.66 billion, a PE ratio of 159.31, a PEG ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 earnings per share. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 765.85%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction dated 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 directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,848 shares of company stock worth $22,470,124 over the last 90 days. Company 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.