Quarry LP Grows Holdings in Iron Mountain Incorporated (NYSE:IRM)

Quarry LP raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 76.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 875 shares of the financial services provider’s stock after purchasing an additional 379 shares during the quarter. Quarry LP’s holdings in Iron Mountain were worth $92,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IRM. Key Financial Inc grew its holdings in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain during the fourth quarter valued at $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the 4th quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain during the fourth quarter valued at about $53,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain 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 sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was 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 in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock worth $29,370,872. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of recent research reports. Truist Financial initiated coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target on the stock. Barclays decreased their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. JPMorgan Chase & Co. lowered 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. Finally, Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $121.29.

Iron Mountain Trading Down 0.2 %

Shares of Iron Mountain stock opened at $88.29 on Wednesday. The firm’s 50 day simple moving average is $85.89 and its two-hundred day simple moving average is $102.72. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market capitalization of $26.04 billion, a price-to-earnings ratio of 144.74, a PEG ratio of 5.15 and a beta of 0.97.

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

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.56%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. Iron Mountain’s payout ratio is presently 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.