Two Sigma Advisers LP Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Two Sigma Advisers LP acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,700 shares of the financial services provider's stock, valued at approximately $809,000.

Other institutional investors have also recently bought and sold shares of the company. Texas Bank & Trust Co acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $245,000. Toronto Dominion Bank boosted its holdings in shares of Iron Mountain by 8.8% in the fourth quarter. Toronto Dominion Bank now owns 158,877 shares of the financial services provider's stock valued at $16,700,000 after buying an additional 12,801 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $3,955,000. Point72 Asset Management L.P. boosted its holdings in shares of Iron Mountain by 439.8% in the fourth 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 buying an additional 978,251 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Iron Mountain by 227.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 141,500 shares of the financial services provider's stock valued at $14,873,000 after buying an additional 98,300 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Insiders Place Their Bets

In other Iron Mountain news, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $98.77, for a total transaction of $6,827,476.25. The disclosure for this sale can be found here. Insiders have sold 215,773 shares of company stock worth $20,229,435 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

NYSE:IRM traded up $0.33 during mid-day trading on Wednesday, reaching $100.29. 1,283,862 shares of the company's stock were exchanged, compared to its average volume of 1,861,620. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The firm has a market capitalization of $29.59 billion, a PE ratio of 164.41, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09. The business's fifty day simple moving average is $90.42 and its two-hundred day simple moving average is $98.44.

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

Iron Mountain Dividend Announcement

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 given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is 765.85%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Wells Fargo & Company cut their price objective 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 report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. Barclays boosted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. 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 research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $121.71.

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.