Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by abrdn plc

abrdn plc increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 34.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 227,884 shares of the financial services provider’s stock after acquiring an additional 58,480 shares during the quarter. abrdn plc’s holdings in Iron Mountain were worth $15,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC raised its holdings in Iron Mountain by 1.7% in the 4th quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after buying an additional 156 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Iron Mountain by 17.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after buying an additional 171 shares during the period. J.W. Cole Advisors Inc. increased its stake in Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 177 shares during the period. Federated Hermes Inc. increased its stake in Iron Mountain by 4.0% during the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 179 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in Iron Mountain by 4.6% during the third quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock valued at $12,698,221 over the last three months. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IRM has been the topic of a number of recent research reports. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus upped their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Barclays upped their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company upped their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Price Performance

IRM stock opened at $78.19 on Thursday. The company has a market capitalization of $22.92 billion, a P/E ratio of 124.11, a PEG ratio of 4.61 and a beta of 0.94. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The business has a 50 day simple moving average of $77.10 and a 200-day simple moving average of $69.11. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio is presently 412.70%.

Iron Mountain 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.