V Square Quantitative Management LLC Purchases 1,295 Shares of Iron Mountain Incorporated (NYSE:IRM) (2024)

V Square Quantitative Management LLC grew its position in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,617 shares of the financial services provider’s stock after acquiring an additional 1,295 shares during the quarter. V Square Quantitative Management LLC’s holdings in Iron Mountain were worth $463,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cohen & Steers Inc. raised its holdings in shares of Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares in the last quarter. Norges Bank acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $228,391,000. Wellington Management Group LLP raised its holdings in shares of Iron Mountain by 315.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after buying an additional 2,286,711 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Iron Mountain by 214.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after buying an additional 1,178,754 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.3 %

NYSE:IRM opened at $88.02 on Friday. Iron Mountain Incorporated has a 12-month low of $53.74 and a 12-month high of $89.91. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $25.80 billion, a P/E ratio of 133.37, a P/E/G ratio of 5.25 and a beta of 0.95. The stock’s fifty day simple moving average is $79.69 and its 200-day simple moving average is $74.28.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.95%. Iron Mountain’s payout ratio is 393.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company raised their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.80.

Get Our Latest Research Report on IRM

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at $2,860,050.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Iron Mountain news, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at $2,860,050.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,209 shares of company stock valued at $3,639,643. Company insiders own 2.10% of the company’s stock.

Iron Mountain Company Profile

(Free Report)

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.