Investment Management Corp of Ontario Sells 5,768 Shares of Iron Mountain Incorporated (NYSE:IRM)

Investment Management Corp of Ontario cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,944 shares of the financial services provider’s stock after selling 5,768 shares during the period. Investment Management Corp of Ontario’s holdings in Iron Mountain were worth $3,253,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Wealthfront Advisers LLC boosted its holdings in shares of 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 worth $721,562,000 after buying an additional 6,795,792 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after buying an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Iron Mountain by 0.4% during 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 buying an additional 15,097 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after buying an additional 92,475 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Iron Mountain during the 4th quarter worth approximately $348,249,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 0.4%

NYSE IRM opened at $97.08 on Monday. The firm has a market capitalization of $28.64 billion, a P/E ratio of 159.15, a PEG ratio of 5.15 and a beta of 1.08. The business has a fifty day simple moving average of $86.50 and a 200 day simple moving average of $100.97. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last released 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 business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. Iron Mountain’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.23%. Iron Mountain’s dividend payout ratio (DPR) is presently 765.85%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target on the stock. Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. lowered 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. Finally, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. One 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 company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $121.29.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This represents a 95.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,112,345 in the last quarter. 2.10% of the stock is currently owned by company insiders.

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.