Sterling Capital Management LLC Has $1.06 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Sterling Capital Management LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 29.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,091 shares of the financial services provider’s stock after purchasing an additional 2,296 shares during the quarter. Sterling Capital Management LLC’s holdings in Iron Mountain were worth $1,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Merit Financial Group LLC grew its position in shares of Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC grew its holdings in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the period. Exchange Traded Concepts LLC increased its position in Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,511 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Iron Mountain in the fourth quarter valued at approximately $102,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at approximately $24,122,000. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on IRM. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays dropped 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 report on Thursday, March 20th. Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price for the company. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $121.29.

Iron Mountain Stock Down 1.3 %

Shares of NYSE:IRM opened at $83.26 on Wednesday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The company’s 50 day moving average price is $88.63 and its two-hundred day moving average price is $105.07. The firm has a market cap of $24.46 billion, a PE ratio of 136.49, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the business earned $0.52 EPS. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.77%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

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.