Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. increased its position in Iron Mountain Incorporated (NYSE:IRM) by 227.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,500 shares of the financial services provider’s stock after acquiring an additional 98,300 shares during the period. Polar Asset Management Partners Inc.’s holdings in Iron Mountain were worth $14,873,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Key Financial Inc increased its stake 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 during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. lifted 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 worth $51,000 after acquiring an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $96.94 on Thursday. The firm’s 50 day moving average is $87.24 and its 200-day moving average is $100.71. The stock has a market capitalization of $28.60 billion, a P/E ratio of 158.92, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

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

Wall Street Analyst Weigh In

IRM has been the subject of a number of research analyst reports. Truist Financial initiated coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Barclays reduced 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. JPMorgan Chase & Co. lowered their price objective 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. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $121.29.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total value of $6,642,221.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain 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 $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,112,345 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.