Schonfeld Strategic Advisors LLC Grows Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Schonfeld Strategic Advisors LLC grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1,475.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 235,628 shares of the financial services provider’s stock after purchasing an additional 220,673 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Iron Mountain were worth $24,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Iron Mountain by 24.5% in the 4th quarter. AQR Capital Management LLC now owns 203,864 shares of the financial services provider’s stock valued at $21,235,000 after acquiring an additional 40,162 shares during the period. Northern Trust Corp lifted its stake in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock valued at $454,756,000 after buying an additional 1,554,746 shares in the last quarter. Quarry LP boosted its holdings in Iron Mountain by 76.4% in the 4th quarter. Quarry LP now owns 875 shares of the financial services provider’s stock worth $92,000 after buying an additional 379 shares during the period. Boothbay Fund Management LLC bought a new position in Iron Mountain in the 4th quarter worth approximately $263,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Iron Mountain during the 4th quarter valued at $707,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. reduced their price target on 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 decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 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. Finally, Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and an average price target of $121.29.

Iron Mountain Stock Up 0.9 %

Iron Mountain stock opened at $88.48 on Tuesday. The firm has a fifty day simple moving average of $85.99 and a two-hundred day simple moving average of $102.82. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The company has a market capitalization of $26.10 billion, a PE ratio of 145.05, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last released 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the firm posted $0.52 EPS. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.55%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,370,872 in the last three months. 2.10% of the stock is owned by insiders.

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.