Voloridge Investment Management LLC Has $9.63 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Voloridge Investment Management LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 111.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,573 shares of the financial services provider's stock after purchasing an additional 48,308 shares during the quarter. Voloridge Investment Management LLC's holdings in Iron Mountain were worth $9,625,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Key Financial Inc grew its stake in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the fourth quarter valued at $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain during the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain in the 4th quarter worth about $53,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Iron Mountain stock traded up $1.15 during midday trading 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 has a market capitalization of $28.73 billion, a PE ratio of 159.61, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock's 50 day simple moving average is $89.32 and its 200 day simple moving average is $99.02.

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

Iron Mountain Dividend Announcement

The business also recently announced 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 3.23%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is presently 765.85%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company cut 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. Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Barclays lifted their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One 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's stock. According to MarketBeat, Iron Mountain has an average rating of "Buy" and an average price target of $121.71.

Insiders Place Their Bets

In related news, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This represents a 42.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,371 shares of company stock valued at $29,919,729 over the last three months. Company insiders own 2.10% of the company's stock.

About Iron Mountain

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.