Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its position in Iron Mountain Incorporated (NYSE:IRM) by 56.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,326,476 shares of the financial services provider’s stock after buying an additional 1,554,746 shares during the quarter. Northern Trust Corp’s holdings in Iron Mountain were worth $454,756,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IRM. Wealthfront Advisers LLC lifted its holdings in 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 bought a new stake in Iron Mountain during the fourth quarter worth approximately $348,249,000. TD Asset Management Inc. increased its holdings in shares of Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after buying an additional 1,086,308 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Iron Mountain in the fourth quarter valued at $55,271,000. Finally, Invesco Ltd. boosted its stake in shares of Iron Mountain by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider’s stock worth $260,969,000 after acquiring an additional 363,783 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRM. Wells Fargo & Company cut 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. Barclays reduced their price objective 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. dropped their target price on shares of 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 started coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued 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 research report on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $121.29.

Insider Buying and Selling at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of Iron Mountain 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 transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock worth $29,370,872 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 0.2 %

IRM opened at $88.29 on Wednesday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a fifty day moving average price of $85.89 and a 200 day moving average price of $102.72. The stock has a market cap of $26.04 billion, a price-to-earnings ratio of 144.74, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the business posted $0.52 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.56%. Iron Mountain’s dividend payout ratio is currently 514.75%.

Iron Mountain Company Profile

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.