186,499 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 186,499 shares of the financial services provider’s stock, valued at approximately $19,603,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IRM. Key Financial Inc lifted its position in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at about $26,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain during the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after buying an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in Iron Mountain in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IRM. Barclays reduced their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. cut 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, Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.67.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the company’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 $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 318,973 shares of company stock valued at $29,370,872. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $83.07 on Friday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The firm has a market capitalization of $24.40 billion, a PE ratio of 136.17, a P/E/G ratio of 5.15 and a beta of 1.04. The company’s 50-day moving average is $93.03 and its 200-day moving average is $107.57.

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

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

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.