Twinbeech Capital LP Takes $956,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Twinbeech Capital LP bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,094 shares of the financial services provider's stock, valued at approximately $956,000.

Other large investors also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at about $26,000. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the period. Whittier Trust Co. of Nevada Inc. increased 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 valued at $51,000 after purchasing an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Daniel Borges sold 6,433 shares of the 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 sale, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $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 valued at $29,112,345 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 1.6%

Iron Mountain stock traded up $1.54 during trading hours on Tuesday, reaching $97.75. 304,076 shares of the company were exchanged, compared to its average volume of 1,985,438. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 160.25, a PEG ratio of 5.15 and a beta of 1.08. The stock has a 50-day moving average of $89.14 and a 200 day moving average of $99.03. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

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, topping analysts' consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS 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 dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.21%. Iron Mountain's payout ratio is currently 765.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note 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 assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. One equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $121.29.

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.