NEOS Investment Management LLC Has $1.69 Million Position in Iron Mountain Incorporated (NYSE:IRM)

NEOS Investment Management LLC boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 30.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,027 shares of the financial services provider's stock after acquiring 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 reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Key Financial Inc lifted its holdings 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 purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain during the 4th quarter worth about $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. lifted its position 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 acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com cut shares of Iron Mountain from a "hold" rating to a "sell" rating in a research note on Monday. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has an average rating of "Moderate Buy" and a consensus target price of $125.67.

Remove Ads

Insider Buying and Selling

In related news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value 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 $26,737.92. This represents a 95.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mithu Bhargava sold 1,738 shares of the company's 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 transaction, the executive vice president now owns 13,054 shares of the company's stock, valued at $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 sold a total of 249,848 shares of company stock worth $23,418,519 in the last ninety days. 2.10% of the stock is owned by insiders.

Iron Mountain Price Performance

IRM traded down $5.07 on Thursday, hitting $83.03. 554,228 shares of the stock were exchanged, compared to its average volume of 1,766,443. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 136.11, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The business has a 50-day moving average of $93.59 and a two-hundred day moving average of $107.75.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly 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 firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the company posted $0.52 EPS. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is 514.75%.

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.