Point72 Asset Management L.P. Has $126.20 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Point72 Asset Management L.P. boosted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 439.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,200,660 shares of the financial services provider's stock after purchasing an additional 978,251 shares during the period. Point72 Asset Management L.P. owned about 0.41% of Iron Mountain worth $126,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Key Financial Inc grew its position in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the fourth quarter valued at $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain in the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. grew its position in Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in Iron Mountain in the fourth quarter valued at $53,000. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

IRM has been the subject of a number of analyst reports. Truist Financial initiated 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 for the company. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Barclays decreased their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $121.29.

Iron Mountain Stock Performance

Shares of IRM stock traded up $1.19 during midday trading on Friday, hitting $100.69. 1,706,978 shares of the company were exchanged, compared to its average volume of 1,848,542. The firm has a market capitalization of $29.71 billion, a P/E ratio of 165.06, a PEG ratio of 5.15 and a beta of 1.08. The firm's 50 day moving average price is $87.89 and its two-hundred day moving average price is $100.14. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $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 sold 318,973 shares of company stock worth $29,112,345 in the last quarter. 2.10% of the stock is currently owned by corporate 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.