Epoch Investment Partners Inc. Sells 521,373 Shares of Iron Mountain Incorporated (NYSE:IRM)

Epoch Investment Partners Inc. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 41.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 747,550 shares of the financial services provider’s stock after selling 521,373 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.25% of Iron Mountain worth $78,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IRM. Wealthfront Advisers LLC grew its position in shares of Iron Mountain by 9,843.3% during 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 acquiring an additional 6,795,792 shares during the period. Norges Bank bought a new stake in Iron Mountain during the fourth quarter valued at about $348,249,000. TD Asset Management Inc. increased its position in Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after buying an additional 1,086,308 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Iron Mountain in the fourth quarter worth about $55,271,000. Finally, Invesco Ltd. lifted its position in shares of Iron Mountain by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider’s stock valued at $260,969,000 after buying an additional 363,783 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. The trade was a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.9 %

IRM opened at $84.21 on Friday. The company has a market capitalization of $24.74 billion, a PE ratio of 138.05, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm has a 50-day simple moving average of $87.29 and a two-hundred day simple moving average of $104.44.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the business earned $0.52 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.73%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued 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 research note on Friday. Barclays lowered their target price 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. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $121.29.

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.