Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 30.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,027 shares of the financial services provider’s stock after purchasing an additional 3,730 shares during the quarter. NEOS Investment Management LLC’s holdings in Iron Mountain were worth $1,685,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Key Financial Inc lifted its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the fourth quarter valued at approximately $26,000. IMG Wealth Management Inc. acquired a new position in Iron Mountain during the fourth quarter worth $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in 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 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 worth $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IRM. Wells Fargo & Company decreased their target price 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 raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their target price 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 analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain has a consensus rating of “Buy” and a consensus price target of $125.67.

Insider Activity

In related news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction 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. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Down 0.5 %

Shares of NYSE:IRM opened at $85.07 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’s 50 day moving average price is $94.97 and its 200 day moving average price is $108.35. The stock has a market cap of $24.99 billion, a price-to-earnings ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

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

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 514.75%.

Iron Mountain Company 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.