Iron Mountain Incorporated (NYSE:IRM) Stake Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 6.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,590,370 shares of the financial services provider’s stock after selling 105,528 shares during the period. Ameriprise Financial Inc.’s holdings in Iron Mountain were worth $167,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after acquiring an additional 100 shares during the period. Premier Path Wealth Partners LLC boosted its stake 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 valued at $299,000 after purchasing an additional 106 shares during the period. Belpointe Asset Management LLC grew its position 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 purchasing an additional 112 shares during the last quarter. Mather Group LLC. increased its stake in shares of 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 purchasing an additional 113 shares during the period. Finally, DoubleLine ETF Adviser LP raised its holdings in shares of Iron Mountain by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider’s stock valued at $2,214,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 1,738 shares of the 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 $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,973 shares of company stock valued at $29,112,345. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 0.2 %

IRM stock opened at $96.97 on Wednesday. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The firm has a 50-day moving average of $86.12 and a two-hundred day moving average of $101.71. The firm has a market capitalization of $28.60 billion, a PE ratio of 158.97, a P/E/G ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, June 16th. Iron Mountain’s payout ratio is 765.85%.

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.