Polar Asset Management Partners Inc. increased 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 141,500 shares of the financial services provider's stock after buying 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 also recently bought and sold shares of the company. ProShare Advisors LLC grew its stake in Iron Mountain by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 53,429 shares of the financial services provider's stock valued at $5,616,000 after buying an additional 3,630 shares during the last quarter. Quantinno Capital Management LP increased its position in Iron Mountain by 35.7% in the fourth quarter. Quantinno Capital Management LP now owns 21,135 shares of the financial services provider's stock worth $2,222,000 after purchasing an additional 5,556 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of Iron Mountain during the 4th quarter worth about $455,000. Man Group plc raised its holdings in Iron Mountain by 287.7% during the 4th quarter. Man Group plc now owns 220,738 shares of the financial services provider's stock worth $23,202,000 after buying an additional 163,798 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in Iron Mountain by 2.2% during 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 acquiring an additional 1,636 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
Iron Mountain Trading Up 0.4%
IRM stock traded up $0.40 during midday trading on Monday, reaching $101.01. The stock had a trading volume of 1,470,397 shares, compared to its average volume of 1,847,029. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company has a market cap of $29.80 billion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. The company's fifty day simple moving average is $87.89 and its 200 day simple moving average is $99.97.
Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. The business had revenue of $1.59 billion for 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.10 earnings per share. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.
Iron Mountain Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 dividend yield of 3.11%. Iron Mountain's payout ratio is 765.85%.
Analyst Ratings Changes
A number of research firms have recently weighed in on IRM. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target 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. Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target for the company. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $121.29.
Get Our Latest Research Report on Iron Mountain
Insiders Place Their Bets
In related news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is owned by company insiders.
About Iron Mountain
(
Free Report)
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.
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