Point72 Asset Management L.P. Has $126.20 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Point72 Asset Management L.P. grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 439.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,200,660 shares of the financial services provider’s stock after acquiring an additional 978,251 shares during the period. Point72 Asset Management L.P. owned 0.41% of Iron Mountain worth $126,201,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total transaction of $6,642,221.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This represents a 11.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IRM has been the subject of several analyst reports. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Wells Fargo & Company dropped 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 report on Tuesday, February 4th. Barclays lowered their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped 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 note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $121.29.

Iron Mountain Trading Down 0.5%

Iron Mountain stock opened at $96.94 on Thursday. 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 $28.60 billion, a price-to-earnings ratio of 158.92, a P/E/G ratio of 5.15 and a beta of 1.08. The firm has a 50 day moving average of $87.24 and a 200 day moving average of $100.71.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the company posted $1.10 earnings per share. Iron Mountain’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.24%. Iron Mountain’s dividend payout ratio is currently 765.85%.

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.