ING Groep NV Sells 1,750 Shares of Iron Mountain Incorporated (NYSE:IRM)

ING Groep NV lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,481 shares of the financial services provider’s stock after selling 1,750 shares during the period. ING Groep NV’s holdings in Iron Mountain were worth $3,940,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iron Mountain by 537.0% during the 3rd 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 valued at $376,756,000 after purchasing an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC boosted its position in Iron Mountain by 2,193.9% in 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 buying an additional 495,898 shares in the last quarter. International Assets Investment Management LLC boosted its position in Iron Mountain by 12,953.4% in 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 buying an additional 445,207 shares in the last quarter. abrdn plc grew its stake in shares of Iron Mountain by 88.2% during the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after buying an additional 293,425 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of 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 worth $243,000 after buying an additional 240,261 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $91.77 on Friday. The company’s 50 day moving average price is $103.50 and its 200-day moving average price is $112.34. Iron Mountain Incorporated has a 52-week low of $70.00 and a 52-week high of $130.24. The company has a market capitalization of $26.96 billion, a P/E ratio of 150.44, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company posted $0.52 EPS. Analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is presently 468.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IRM shares. Barclays reduced their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. 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 note on Tuesday, February 4th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

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.