Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Cubist Systematic Strategies LLC

Posted by Defense World Staff on Mar 7th, 2023

Cubist Systematic Strategies LLC boosted its position in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 103.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,968 shares of the financial services provider’s stock after purchasing an additional 39,691 shares during the period. Cubist Systematic Strategies LLC’s holdings in Iron Mountain were worth $3,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Iron Mountain by 1.9% during the 2nd quarter. State Street Corp now owns 14,896,104 shares of the financial services provider’s stock valued at $734,333,000 after acquiring an additional 274,095 shares during the period. Pictet Asset Management SA lifted its position in shares of Iron Mountain by 40.6% during the 3rd quarter. Pictet Asset Management SA now owns 4,030,490 shares of the financial services provider’s stock valued at $177,221,000 after acquiring an additional 1,163,745 shares during the period. Amundi lifted its position in shares of Iron Mountain by 4.5% during the 2nd quarter. Amundi now owns 3,689,155 shares of the financial services provider’s stock valued at $177,360,000 after acquiring an additional 160,397 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Iron Mountain by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,566,592 shares of the financial services provider’s stock valued at $197,625,000 after acquiring an additional 103,470 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Iron Mountain by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 2,092,091 shares of the financial services provider’s stock valued at $101,864,000 after acquiring an additional 78,238 shares during the period. Institutional investors and hedge funds own 77.12% of the company’s stock.

Insider Activity

In other news, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $55.15, for a total transaction of $62,043.75. Following the completion of the sale, the executive vice president now directly owns 46,907 shares of the company’s stock, valued at approximately $2,586,921.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $55.15, for a total transaction of $62,043.75. Following the completion of the sale, the executive vice president now directly owns 46,907 shares of the company’s stock, valued at approximately $2,586,921.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $51.76, for a total transaction of $543,842.32. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $15,302,844. The disclosure for this sale can be found here. Insiders sold 105,059 shares of company stock valued at $5,504,544 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 0.5 %

IRM stock opened at $54.88 on Tuesday. The stock has a market capitalization of $15.96 billion, a P/E ratio of 28.88, a PEG ratio of 3.67 and a beta of 0.89. The company has a debt-to-equity ratio of 16.46, a quick ratio of 0.81 and a current ratio of 0.81. Iron Mountain Incorporated has a one year low of $43.33 and a one year high of $58.61. The company has a 50 day moving average price of $52.49 and a two-hundred day moving average price of $51.49.

Iron Mountain (NYSE:IRM – Get Rating) last released its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a return on equity of 79.49% and a net margin of 10.91%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 3.72 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.6185 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.47 annualized dividend and a dividend yield of 4.51%. Iron Mountain’s payout ratio is currently 130.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IRM shares. BNP Paribas assumed coverage on shares of Iron Mountain in a research report on Wednesday, December 14th. They set an “outperform” rating and a $66.00 price target for the company. Exane BNP Paribas assumed coverage on Iron Mountain in a research report on Wednesday, December 14th. They set an “outperform” rating for the company. Evercore ISI cut their price objective on Iron Mountain to $60.00 in a research report on Tuesday, November 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Iron Mountain in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.80.

Iron Mountain Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.