Laurion Capital Management LP Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Laurion Capital Management LP trimmed its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,626 shares of the financial services provider's stock after selling 6,054 shares during the period. Laurion Capital Management LP's holdings in Iron Mountain were worth $3,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc raised its stake in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain in the 4th quarter worth about $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the 4th quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Iron Mountain by 46.4% during 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 acquiring an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain in the fourth quarter worth approximately $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 2.3%

NYSE:IRM traded up $2.24 during trading hours on Thursday, hitting $99.38. 1,399,427 shares of the stock traded hands, compared to its average volume of 1,844,200. The company has a market cap of $29.32 billion, a price-to-earnings ratio of 162.92, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a 50 day moving average price of $87.24 and a 200 day moving average price of $100.71.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 EPS. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is currently 765.85%.

Analyst Upgrades and Downgrades

IRM has been the topic of several research reports. Barclays dropped 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Wells Fargo & Company reduced their target price on shares of 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. 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 report on Tuesday, February 18th. Finally, Truist Financial began coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain has an average rating of "Buy" and a consensus price target of $121.29.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were 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 approximately $21,681,924.66. The trade was a 42.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have 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

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.