Aew Capital Management L P Buys 242,490 Shares of Iron Mountain Incorporated (NYSE:IRM)

Aew Capital Management L P grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 55.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 678,887 shares of the financial services provider’s stock after acquiring an additional 242,490 shares during the period. Iron Mountain comprises approximately 3.4% of Aew Capital Management L P’s holdings, making the stock its 9th biggest holding. Aew Capital Management L P owned about 0.23% of Iron Mountain worth $71,358,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IRM. Key Financial Inc increased its stake 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 worth $26,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the 3rd quarter worth $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the 3rd quarter worth $36,000. Dunhill Financial LLC increased its stake in 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 buying an additional 152 shares during the period. Finally, Quarry LP increased its stake in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

NYSE IRM opened at $93.15 on Friday. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The company has a 50-day simple moving average of $102.11 and a 200-day simple moving average of $111.78. The firm has a market capitalization of $27.36 billion, a PE ratio of 152.70, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm posted $0.52 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.37%. Iron Mountain’s dividend payout ratio is 514.75%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price 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. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus price target of $127.67.

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.