ExodusPoint Capital Management LP Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

ExodusPoint Capital Management LP purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,025 shares of the financial services provider’s stock, valued at approximately $636,000.

Other large investors have also made changes to their positions in the company. State Street Corp lifted its stake in Iron Mountain by 1.8% in the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock valued at $819,026,000 after acquiring an additional 261,765 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Iron Mountain by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,944,305 shares of the financial services provider’s stock worth $345,633,000 after purchasing an additional 172,801 shares in the last quarter. Moneta Group Investment Advisors LLC acquired a new position in Iron Mountain during the fourth quarter worth $224,698,000. Deutsche Bank AG increased its position in Iron Mountain by 3.2% during the fourth quarter. Deutsche Bank AG now owns 4,147,354 shares of the financial services provider’s stock worth $206,746,000 after buying an additional 127,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Iron Mountain by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,103,133 shares of the financial services provider’s stock valued at $204,542,000 after buying an additional 54,106 shares in the last quarter. Institutional investors own 76.94% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CFO Barry Hytinen sold 18,500 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $56.23, for a total value of $1,040,255.00. Following the completion of the sale, the chief financial officer now directly owns 80,197 shares of the company’s stock, valued at approximately $4,509,477.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Barry Hytinen sold 18,500 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $56.23, for a total value of $1,040,255.00. Following the completion of the transaction, the chief financial officer now owns 80,197 shares in the company, valued at approximately $4,509,477.31. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah Marson sold 2,381 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $59.21, for a total transaction of $140,979.01. Following the completion of the transaction, the executive vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,672,559.46. The disclosure for this sale can be found here. Insiders sold a total of 57,895 shares of company stock valued at $3,408,827 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com assumed coverage on Iron Mountain in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Barclays lifted their price target on shares of Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Finally, Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $58.00 to $68.00 in a report on Monday, August 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.75.

Iron Mountain Price Performance

NYSE IRM opened at $64.02 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 26.77. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $64.20. The company has a fifty day simple moving average of $60.40 and a 200 day simple moving average of $56.11. The company has a market cap of $18.68 billion, a P/E ratio of 48.82, a P/E/G ratio of 4.24 and a beta of 0.92.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a $0.65 dividend. The ex-dividend date is Thursday, September 14th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 4.06%. Iron Mountain’s dividend payout ratio is 190.00%.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.