Quantinno Capital Management LP Grows Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Quantinno Capital Management LP boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,135 shares of the financial services provider's stock after acquiring an additional 5,556 shares during the period. Quantinno Capital Management LP's holdings in Iron Mountain were worth $2,222,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mufg Securities Americas Inc. bought a new position in Iron Mountain during the 4th quarter valued at approximately $455,000. Man Group plc raised its position in shares of Iron Mountain by 287.7% in the 4th quarter. Man Group plc now owns 220,738 shares of the financial services provider's stock worth $23,202,000 after purchasing an additional 163,798 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Iron Mountain by 2.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 77,708 shares of the financial services provider's stock worth $8,138,000 after purchasing an additional 1,636 shares in the last quarter. Nomura Holdings Inc. boosted its stake in Iron Mountain by 88.6% in the 4th quarter. Nomura Holdings Inc. now owns 43,734 shares of the financial services provider's stock worth $4,597,000 after purchasing an additional 20,551 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in shares of Iron Mountain by 126.2% during the fourth quarter. NorthRock Partners LLC now owns 4,967 shares of the financial services provider's stock valued at $522,000 after acquiring an additional 2,771 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. lowered their target price 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. 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 reduced their price objective 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Iron Mountain currently has an average rating of "Buy" and an average target price of $121.29.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $0.42 during mid-day trading on Monday, reaching $96.22. 911,060 shares of the company traded hands, compared to its average volume of 1,853,421. The company's 50 day moving average price is $88.99 and its 200-day moving average price is $99.20. The firm has a market cap of $28.39 billion, a PE ratio of 157.74, a PEG ratio of 5.15 and a beta of 1.08. 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 posted its quarterly 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. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.26%. Iron Mountain's dividend payout ratio is presently 765.85%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,112,345 in the last three months. 2.10% of the stock is owned by company insiders.

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.