UniSuper Management Pty Ltd Acquires 5,393 Shares of Iron Mountain Incorporated (NYSE:IRM)

UniSuper Management Pty Ltd lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,465 shares of the financial services provider's stock after purchasing an additional 5,393 shares during the period. UniSuper Management Pty Ltd's holdings in Iron Mountain were worth $11,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in Iron Mountain during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the fourth quarter worth about $26,000. Key Financial Inc raised its stake in 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 purchasing an additional 251 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the 3rd quarter valued at about $36,000. Finally, Dunhill Financial LLC grew its position in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after purchasing an additional 152 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM traded up $0.33 during mid-day trading on Tuesday, reaching $86.37. The company had a trading volume of 430,494 shares, compared to its average volume of 1,760,746. The company has a market capitalization of $25.37 billion, a price-to-earnings ratio of 141.40, a P/E/G ratio of 5.15 and a beta of 1.04. The company's 50 day simple moving average is $94.51 and its 200 day simple moving average is $108.10. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

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Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results 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 company 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 prior year, the business earned $0.52 EPS. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.64%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is currently 514.75%.

Analyst Ratings Changes

IRM has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a research note on Monday. Finally, Barclays dropped their target price on shares of 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 sell rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Iron Mountain has an average rating of "Moderate Buy" and an average target price of $125.67.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock worth $30,666,904 in the last ninety days. Company insiders own 2.10% of the company's stock.

About Iron Mountain

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.