QRG Capital Management Inc. Acquires 22,620 Shares of Iron Mountain Incorporated (NYSE:IRM)

QRG Capital Management Inc. lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,339 shares of the financial services provider's stock after purchasing an additional 22,620 shares during the quarter. QRG Capital Management Inc. owned approximately 0.06% of Iron Mountain worth $11,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Deutsche Bank AG boosted its holdings in shares of Iron Mountain by 0.7% during the 3rd quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider's stock worth $271,778,000 after buying an additional 29,683 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider's stock valued at $285,960,000 after purchasing an additional 1,546,592 shares during the last quarter. Northern Trust Corp increased its stake in shares of Iron Mountain by 1.2% in the third quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider's stock worth $232,677,000 after purchasing an additional 47,902 shares during the period. Invesco Ltd. increased its stake in shares of Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider's stock worth $192,822,000 after purchasing an additional 1,077,339 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider's stock worth $220,975,000 after purchasing an additional 81,741 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

Shares of IRM stock traded up $0.18 during mid-day trading on Friday, reaching $79.77. The company's stock had a trading volume of 1,033,743 shares, compared to its average volume of 1,279,262. The firm's 50-day moving average is $78.28 and its two-hundred day moving average is $70.67. The company has a market cap of $23.38 billion, a P/E ratio of 120.87, a PEG ratio of 4.77 and a beta of 0.96. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, research analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain's dividend payout ratio (DPR) is 393.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, January 23rd. Barclays increased their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. TheStreet downgraded shares of Iron Mountain from a "b" rating to a "c" rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.80.

Insiders Place Their Bets

In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $78.70, for a total transaction of $157,400.00. Following the completion of the transaction, the executive vice president now directly owns 67,286 shares of the company's stock, valued at approximately $5,295,408.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Deborah Marson sold 2,000 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $78.70, for a total transaction of $157,400.00. Following the completion of the sale, the executive vice president now directly owns 67,286 shares of the company's stock, valued at approximately $5,295,408.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Baker-Greene sold 4,941 shares of Iron Mountain stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $72.94, for a total value of $360,396.54. Following the completion of the transaction, the executive vice president now owns 3,365 shares of the company's stock, valued at approximately $245,443.10. The disclosure for this sale can be found here. Insiders sold 153,296 shares of company stock worth $12,023,923 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.