BI Asset Management Fondsmaeglerselskab A S Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.4% in the fourth quarter, Holdings Channel reports. The firm owned 11,768 shares of the financial services provider’s stock after selling 3,396 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Iron Mountain were worth $1,237,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IRM. Oregon Public Employees Retirement Fund boosted its position in shares of Iron Mountain by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after buying an additional 100 shares during the period. Premier Path Wealth Partners LLC lifted its position in Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 106 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Iron Mountain by 1.6% in the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock worth $821,000 after acquiring an additional 112 shares during the period. Mather Group LLC. grew its position in Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 113 shares in the last quarter. Finally, One Charles Private Wealth Services LLC raised its stake in shares of Iron Mountain by 1.0% during the fourth quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 119 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IRM shares. Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target on the stock. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Finally, JPMorgan Chase & Co. cut 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. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $121.29.

Iron Mountain Stock Up 1.8 %

NYSE:IRM opened at $83.04 on Wednesday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company has a market cap of $24.39 billion, a PE ratio of 136.13, a P/E/G ratio of 5.15 and a beta of 0.97. The business’s 50 day moving average is $86.62 and its two-hundred day moving average is $103.84.

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

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.78%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the firm’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 $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,370,872 over the last ninety 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.