ExodusPoint Capital Management LP Buys New Position in Iron Mountain Incorporated (NYSE:IRM)

ExodusPoint Capital Management LP purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 186,499 shares of the financial services provider's stock, valued at approximately $19,603,000. ExodusPoint Capital Management LP owned 0.06% of Iron Mountain at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRM. Geller Advisors LLC grew its holdings in shares of Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock valued at $403,000 after purchasing an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock valued at $2,644,000 after purchasing an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after buying an additional 106 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock worth $271,000 after buying an additional 113 shares during the last quarter. Finally, One Charles Private Wealth Services LLC raised its position in shares of Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after buying an additional 119 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 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 $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,370,872 over the last three months. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 9.8 %

IRM traded up $7.54 on Wednesday, reaching $84.47. 3,733,632 shares of the company traded hands, compared to its average volume of 1,814,606. The company has a market cap of $24.81 billion, a P/E ratio of 138.48, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The firm has a fifty day simple moving average of $90.22 and a two-hundred day simple moving average of $106.04.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.52 EPS. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a dividend of $0.785 per share. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.72%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is currently 514.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IRM shares. Truist Financial started coverage on Iron Mountain in a research note on Tuesday. They set a "buy" rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company dropped their price objective 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 target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Finally, StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday. One equities research 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 data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $121.29.

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.