BNP Paribas Financial Markets Has $52.26 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

BNP Paribas Financial Markets lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 497,147 shares of the financial services provider’s stock after selling 22,187 shares during the period. BNP Paribas Financial Markets’ holdings in Iron Mountain were worth $52,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the fourth quarter worth approximately $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain during the 4th quarter worth $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain during the 4th quarter valued at $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $97.18 on Thursday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company has a market capitalization of $28.66 billion, a PE ratio of 159.31, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. The company has a fifty day moving average of $86.20 and a 200-day moving average of $101.68.

Iron Mountain (NYSE:IRM) last posted 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 firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued 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 payout ratio is 765.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased 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 began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price on the stock. Barclays dropped 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 report on Thursday, March 20th. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. 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 investment 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 stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $121.29.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total transaction of $6,642,221.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,973 shares of company stock valued at $29,112,345. 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.