USS Investment Management Ltd Sells 22,550 Shares of Iron Mountain Incorporated (NYSE:IRM)

USS Investment Management Ltd reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,702 shares of the financial services provider’s stock after selling 22,550 shares during the period. USS Investment Management Ltd’s holdings in Iron Mountain were worth $6,277,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Iron Mountain during the 4th quarter worth $102,000. U.S. Capital Wealth Advisors LLC raised its position in Iron Mountain by 1,453.1% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 113,002 shares of the financial services provider’s stock worth $11,878,000 after purchasing an additional 105,726 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Iron Mountain by 36.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider’s stock worth $1,087,000 after purchasing an additional 2,768 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Iron Mountain by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 92,363 shares of the financial services provider’s stock worth $9,708,000 after purchasing an additional 4,350 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. lowered 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. Finally, Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $121.29.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $95.81 on Friday. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The firm has a market capitalization of $28.27 billion, a price-to-earnings ratio of 157.07, a PEG ratio of 5.15 and a beta of 1.08. The business has a 50-day simple moving average of $88.81 and a 200 day simple moving average of $99.63.

Iron Mountain (NYSE:IRM) last issued its 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. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $1.10 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

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

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated 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 valued at $29,112,345 in the last three months. Corporate 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.