SG Americas Securities LLC Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

SG Americas Securities LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1,116.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,265 shares of the financial services provider's stock after purchasing an additional 55,309 shares during the period. SG Americas Securities LLC's holdings in Iron Mountain were worth $5,185,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Wealthfront Advisers LLC boosted its holdings in shares of 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 last quarter. Norges Bank bought a new position in shares of Iron Mountain during the 4th quarter valued at about $348,249,000. Northern Trust Corp boosted its holdings in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after purchasing an additional 1,554,746 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Iron Mountain by 439.8% during 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. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on IRM. JPMorgan Chase & Co. dropped their price objective on shares of 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 shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays increased their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain has an average rating of "Buy" and a consensus target price of $121.71.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred 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 SEC, which is available through the SEC website. Also, EVP Greg W. Mcintosh sold 8,398 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at approximately $6,740,759.96. This trade represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock valued at $20,319,408 in the last ninety days. 1.90% of the stock is owned by company insiders.

Iron Mountain Trading Down 1.0%

Shares of NYSE:IRM traded down $1.01 during trading on Friday, reaching $101.50. The company's stock had a trading volume of 979,247 shares, compared to its average volume of 1,852,247. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a market capitalization of $29.95 billion, a PE ratio of 166.39, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09. The firm's 50 day simple moving average is $93.42 and its two-hundred day simple moving average is $97.44.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the company posted $1.10 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. 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. Investors of record on Monday, June 16th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

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.