Aew Capital Management L P Has $71.36 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Aew Capital Management L P increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 55.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,887 shares of the financial services provider’s stock after acquiring an additional 242,490 shares during the period. Iron Mountain makes up approximately 3.4% of Aew Capital Management L P’s investment portfolio, making the stock its 9th biggest position. Aew Capital Management L P’s holdings in Iron Mountain were worth $71,358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares in the last quarter. Tidal Investments LLC boosted its holdings 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 valued at $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Iron Mountain during the third quarter valued at approximately $24,122,000. 80.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock worth $16,805,912 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on IRM. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company cut their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain has an average rating of “Buy” and a consensus price target of $127.67.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $93.15 on Friday. The company has a market cap of $27.36 billion, a PE ratio of 152.70, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The firm has a 50 day simple moving average of $102.11 and a 200 day simple moving average of $111.78.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the company posted $0.52 EPS. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.37%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Iron Mountain Company 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.