Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 227.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,500 shares of the financial services provider's stock after purchasing an additional 98,300 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Iron Mountain were worth $14,873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain during the 4th quarter valued at about $26,000. Key Financial Inc grew its stake in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in 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 valued at $51,000 after acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in Iron Mountain in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm's 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total value of $807,383.72. Following the sale, the executive vice president now directly owns 70,114 shares in the company, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,371 shares of company stock valued at $29,919,729 in the last three months. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IRM shares. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Truist Financial began coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Finally, Barclays upped their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $121.71.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $1.15 during mid-day trading on Tuesday, reaching $97.36. 1,466,153 shares of the company's stock were exchanged, compared to its average volume of 1,851,872. The company's 50-day moving average is $89.32 and its 200-day moving average is $99.02. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a market capitalization of $28.73 billion, a price-to-earnings ratio of 159.61, a PEG ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued 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 of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

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.