Tidal Investments LLC Sells 5,605 Shares of Iron Mountain Incorporated (NYSE:IRM)

Tidal Investments LLC lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 27.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,931 shares of the financial services provider’s stock after selling 5,605 shares during the period. Tidal Investments LLC’s holdings in Iron Mountain were worth $1,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Wealthfront Advisers LLC grew its position in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after buying an additional 6,795,792 shares during the last quarter. Norges Bank bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $348,249,000. Northern Trust Corp grew its position in shares of Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock valued at $454,756,000 after buying an additional 1,554,746 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after buying an additional 1,086,308 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Iron Mountain by 439.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider’s stock valued at $126,201,000 after buying an additional 978,251 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on IRM. Barclays reduced their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. 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. Finally, Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $121.29.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This trade represents a 11.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is owned by company insiders.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $96.22 on Friday. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The stock’s 50-day moving average is $88.99 and its 200 day moving average is $99.42. The firm has a market cap of $28.39 billion, a price-to-earnings ratio of 157.74, a PEG ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 765.85%.

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.