Park Square Financial Group LLC Makes New $314,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Park Square Financial Group LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,991 shares of the financial services provider's stock, valued at approximately $314,000.

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 stake 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 purchasing an additional 6,795,792 shares during the period. Northern Trust Corp lifted its holdings in 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 worth $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Iron Mountain by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after purchasing an additional 15,097 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after purchasing an additional 92,475 shares in the last quarter. Finally, Norges Bank purchased a new position in Iron Mountain in the 4th quarter worth approximately $348,249,000. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on 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. Over the last ninety days, insiders have sold 327,371 shares of company stock worth $29,919,729. Insiders own 2.10% of the company's stock.

Iron Mountain Stock Down 0.1%

IRM stock traded down $0.11 during mid-day trading on Wednesday, hitting $97.20. 1,057,943 shares of the company were exchanged, compared to its average volume of 1,852,117. The firm has a market capitalization of $28.68 billion, a P/E ratio of 159.35, a PEG ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The business has a fifty day simple moving average of $89.51 and a 200-day simple moving average of $99.01.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 earnings per share. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.23%. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Analysts Set New Price Targets

IRM has been the topic of several recent research reports. Barclays increased their price target on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Finally, 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. One 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 stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $121.71.

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.