GF Fund Management CO. LTD. Invests $560,000 in Iron Mountain Incorporated (NYSE:IRM)

GF Fund Management CO. LTD. bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,330 shares of the financial services provider's stock, valued at approximately $560,000.

Several other institutional investors also recently made changes to their positions in the stock. Wealthfront Advisers LLC boosted its position in 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. Norges Bank acquired a new position in shares of Iron Mountain during the fourth quarter valued at $348,249,000. Northern Trust Corp grew its position in shares of Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after acquiring an additional 1,554,746 shares during the last quarter. TD Asset Management Inc. increased its holdings 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 worth $205,220,000 after acquiring an additional 1,086,308 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in 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 purchasing an additional 978,251 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IRM has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Barclays boosted their price target on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday. Truist Financial began 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. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a 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 note on Tuesday, February 4th. One equities research 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.com, the company presently has an average rating of "Buy" and an average target price of $121.71.

Iron Mountain Stock Performance

NYSE IRM traded up $1.15 on Tuesday, reaching $97.36. The company's stock had a trading volume of 1,466,153 shares, compared to its average volume of 1,851,872. The firm's 50 day moving average is $89.32 and its two-hundred day moving average is $99.02. The stock has a market cap of $28.73 billion, a PE ratio of 159.61, a PEG ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

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, topping analysts' consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion during 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 3.23%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is presently 765.85%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This represents a 95.71% decrease in their position. 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 the business'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 disclosure for this sale can be found here. Insiders sold a total of 327,371 shares of company stock worth $29,919,729 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

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.