17,549 Shares in Iron Mountain Incorporated (NYSE:IRM) Purchased by Woodline Partners LP

Woodline Partners LP acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,549 shares of the financial services provider's stock, valued at approximately $1,845,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vident Advisory LLC raised its holdings in shares of Iron Mountain by 12.9% during the fourth quarter. Vident Advisory LLC now owns 4,314 shares of the financial services provider's stock worth $453,000 after acquiring an additional 494 shares in the last quarter. Twinbeech Capital LP purchased a new stake in shares of Iron Mountain during the fourth quarter worth $956,000. Two Sigma Advisers LP purchased a new stake in shares of Iron Mountain during the fourth quarter worth $809,000. Texas Bank & Trust Co purchased a new stake in shares of Iron Mountain during the fourth quarter worth $245,000. Finally, Toronto Dominion Bank raised its holdings in shares of Iron Mountain by 8.8% during the fourth quarter. Toronto Dominion Bank now owns 158,877 shares of the financial services provider's stock worth $16,700,000 after acquiring an additional 12,801 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. This trade represents a 11.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold a total of 327,371 shares of company stock valued at $29,919,729 in the last three months. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IRM. Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Barclays increased their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Wells Fargo & Company lowered their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Price Performance

Shares of NYSE IRM traded up $0.01 during trading hours on Friday, hitting $97.81. 203,831 shares of the company's stock were exchanged, compared to its average volume of 1,846,449. The company's 50-day moving average price is $89.66 and its 200-day moving average price is $98.87. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 160.34, a PEG ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.21%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is currently 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.