Cynosure Group LLC Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Cynosure Group LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,864 shares of the financial services provider's stock, valued at approximately $301,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Tradewinds LLC. purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $464,000. Franklin Resources Inc. lifted its holdings in shares of Iron Mountain by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 124,916 shares of the financial services provider's stock valued at $13,130,000 after buying an additional 3,707 shares during the period. B. Metzler seel. Sohn & Co. AG grew its holdings in Iron Mountain by 7.2% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 24,698 shares of the financial services provider's stock worth $2,594,000 after acquiring an additional 1,651 shares during the period. Summit Financial LLC lifted its holdings in Iron Mountain by 39.7% in the fourth quarter. Summit Financial LLC now owns 6,135 shares of the financial services provider's stock valued at $648,000 after acquiring an additional 1,744 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Iron Mountain by 14.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,473 shares of the financial services provider's stock worth $2,572,000 after purchasing an additional 3,008 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 4.0 %

Shares of NYSE IRM traded up $3.14 during trading on Tuesday, reaching $80.67. The company had a trading volume of 1,100,858 shares, compared to its average volume of 1,790,831. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock has a 50-day moving average price of $91.82 and a two-hundred day moving average price of $106.91. The stock has a market capitalization of $23.69 billion, a PE ratio of 132.66, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

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Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $0.52 EPS. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is currently 514.75%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Truist Financial began coverage on Iron Mountain in a report on Tuesday. They set a "buy" rating and a $95.00 price objective for the company. Finally, Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $121.29.

Insider Buying and Selling

In related news, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company's stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is owned by company insiders.

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.