IFM Investors Pty Ltd Boosts Stake in Iron Mountain Incorporated (NYSE:IRM)

IFM Investors Pty Ltd boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,021 shares of the financial services provider's stock after buying an additional 5,198 shares during the quarter. IFM Investors Pty Ltd's holdings in Iron Mountain were worth $11,015,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Iron Mountain in the 4th quarter valued at about $102,000. Fisher Asset Management LLC purchased a new position in Iron Mountain in the fourth quarter valued at approximately $587,000. Smartleaf Asset Management LLC lifted its stake in Iron Mountain by 8.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,793 shares of the financial services provider's stock valued at $186,000 after purchasing an additional 147 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Iron Mountain by 281.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 930 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 686 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Iron Mountain by 153.5% during the fourth quarter. Jones Financial Companies Lllp now owns 7,118 shares of the financial services provider's stock worth $748,000 after acquiring an additional 4,310 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IRM. Barclays increased their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and an average target price of $121.71.

Iron Mountain Trading Up 1.9%

Shares of Iron Mountain stock traded up $1.92 on Friday, hitting $101.53. 914,630 shares of the company traded hands, compared to its average volume of 1,800,671. The company has a market cap of $29.95 billion, a PE ratio of 247.62 and a beta of 1.08. The stock's 50 day moving average price is $99.01 and its 200-day moving average price is $95.98. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.09%. Iron Mountain's dividend payout ratio is presently 765.85%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the transaction, the executive vice president owned 91,081 shares in the company, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Walter C. Rakowich sold 900 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the sale, the director directly owned 36,515 shares of the company's stock, valued at $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,007 shares of company stock valued at $23,649,959. Company insiders own 1.90% of the company's stock.

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.