AQR Capital Management LLC Purchases 40,162 Shares of Iron Mountain Incorporated (NYSE:IRM)

AQR Capital Management LLC increased its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 24.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 203,864 shares of the financial services provider's stock after acquiring an additional 40,162 shares during the period. AQR Capital Management LLC owned approximately 0.07% of Iron Mountain worth $21,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. World Investment Advisors LLC bought a new stake in Iron Mountain during the third quarter valued at $554,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Iron Mountain during the third quarter worth about $837,000. Tidal Investments LLC increased its position in shares of Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after purchasing an additional 14,737 shares during the last quarter. Principal Financial Group Inc. raised its stake in Iron Mountain by 3.4% in the third quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider's stock valued at $41,882,000 after purchasing an additional 11,685 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Iron Mountain by 14.1% during the fourth quarter. GAMMA Investing LLC now owns 4,329 shares of the financial services provider's stock valued at $455,000 after purchasing an additional 535 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Truist Financial assumed 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. Wells Fargo & Company reduced their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased 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 note on Tuesday, February 18th. Finally, StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain has a consensus rating of "Buy" and an average price target of $121.29.

Insider Activity at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock worth $29,112,345 over the last 90 days. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Down 0.6 %

Shares of NYSE:IRM traded down $0.58 during midday trading on Thursday, hitting $96.74. 1,416,542 shares of the stock traded hands, compared to its average volume of 1,845,742. The stock has a market capitalization of $28.53 billion, a PE ratio of 158.58, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The business's 50 day moving average is $86.20 and its two-hundred day moving average is $101.68.

Iron Mountain (NYSE:IRM - Get Free Report) last issued 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. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

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.