Chevy Chase Trust Holdings LLC cut its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 153,995 shares of the financial services provider's stock after selling 3,284 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Iron Mountain worth $16,186,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock worth $376,756,000 after buying an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock valued at $61,613,000 after purchasing an additional 495,898 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Iron Mountain by 12,953.4% during the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider's stock valued at $53,312,000 after purchasing an additional 445,207 shares in the last quarter. abrdn plc lifted its holdings in Iron Mountain by 88.2% during the third quarter. abrdn plc now owns 626,280 shares of the financial services provider's stock valued at $73,770,000 after purchasing an additional 293,425 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in Iron Mountain by 10,432.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider's stock valued at $243,000 after purchasing an additional 240,261 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company's stock.
IRM has been the topic of several recent analyst reports. BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. 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 report on Tuesday, February 4th. Barclays decreased their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. StockNews.com downgraded shares of Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.17.
View Our Latest Research Report on Iron Mountain
Iron Mountain stock opened at $95.34 on Friday. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24. The stock has a market cap of $27.98 billion, a P/E ratio of 264.85, a PEG ratio of 5.84 and a beta of 1.01. The company has a 50-day moving average price of $105.45 and a 200 day moving average price of $112.78.
Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 44,660.04% and a net margin of 1.77%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is presently 794.47%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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