Muzinich & Co. Inc. Buys 385 Shares of Iron Mountain Incorporated (NYSE:IRM)

Muzinich & Co. Inc. raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 35.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,472 shares of the financial services provider’s stock after buying an additional 385 shares during the period. Muzinich & Co. Inc.’s holdings in Iron Mountain were worth $155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after acquiring an additional 495,898 shares during the last quarter. abrdn plc grew its stake in shares of Iron Mountain by 88.2% in the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after purchasing an additional 293,425 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Iron Mountain by 10,432.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after buying an additional 240,261 shares during the period. Finally, KBC Group NV grew its position in shares of Iron Mountain by 368.4% in the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock worth $36,289,000 after buying an additional 240,195 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $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 quarter, insiders sold 162,391 shares of company stock worth $16,805,912. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $93.04 on Thursday. The stock’s fifty day moving average is $102.55 and its 200 day moving average is $112.03. Iron Mountain Incorporated has a one year low of $73.45 and a one year high of $130.24. The stock has a market cap of $27.33 billion, a P/E ratio of 152.52, a P/E/G ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.37%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

Wall Street Analyst Weigh In

IRM has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped 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. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $127.67.

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.