CoreFirst Bank & Trust Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

CoreFirst Bank & Trust acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,174 shares of the financial services provider’s stock, valued at approximately $2,646,000. Iron Mountain makes up approximately 1.6% of CoreFirst Bank & Trust’s portfolio, making the stock its 13th biggest position.

Several other hedge funds have also bought and sold shares of IRM. Corebridge Financial Inc. lifted its stake in shares of Iron Mountain by 0.7% in the fourth quarter. Corebridge Financial Inc. now owns 76,267 shares of the financial services provider’s stock valued at $8,016,000 after buying an additional 524 shares in the last quarter. Stevens Capital Management LP increased its holdings in Iron Mountain by 102.7% during the 4th quarter. Stevens Capital Management LP now owns 3,564 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 1,806 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $10,278,000. Knights of Columbus Asset Advisors LLC boosted its position in shares of Iron Mountain by 5.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 191,305 shares of the financial services provider’s stock valued at $20,108,000 after buying an additional 9,951 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in Iron Mountain by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 27,813 shares of the financial services provider’s stock valued at $2,923,000 after buying an additional 8,792 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IRM. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $125.67.

Iron Mountain Stock Down 0.9 %

Shares of IRM stock opened at $87.64 on Monday. The firm has a market capitalization of $25.74 billion, a PE ratio of 143.67, a P/E/G ratio of 5.15 and a beta of 1.04. The company has a 50 day moving average price of $96.89 and a 200-day moving average price of $109.17. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the business posted $0.52 earnings per share. Analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.58%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is 514.75%.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock worth $30,666,904 over the last three months. 2.10% of the stock is owned by 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.