Oak Thistle LLC Makes New $244,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Oak Thistle LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 3,039 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IRM. Federated Hermes Inc. lifted its position in shares of Iron Mountain by 10.0% in the 3rd quarter. Federated Hermes Inc. now owns 4,420 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 403 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Iron Mountain by 14.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,776 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 979 shares during the period. Bank of Nova Scotia lifted its position in shares of Iron Mountain by 25.7% in the 3rd quarter. Bank of Nova Scotia now owns 20,226 shares of the financial services provider’s stock worth $1,202,000 after purchasing an additional 4,134 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter worth about $308,000. Finally, Gotham Asset Management LLC lifted its position in Iron Mountain by 25.7% during the 3rd quarter. Gotham Asset Management LLC now owns 54,042 shares of the financial services provider’s stock valued at $3,213,000 after acquiring an additional 11,059 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of Iron Mountain stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the transaction, the director now directly owns 24,491 shares of the company’s stock, valued at $1,845,396.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Wendy J. Murdock sold 1,500 shares of Iron Mountain stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the sale, the director now directly owns 24,491 shares in the company, valued at $1,845,396.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $78.48, for a total transaction of $156,960.00. Following the completion of the sale, the executive vice president now owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,053 shares of company stock valued at $8,429,641. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IRM shares. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays lifted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average target price of $78.33.

Iron Mountain Stock Up 0.1 %

Iron Mountain stock traded up $0.07 during trading hours on Monday, hitting $89.69. The stock had a trading volume of 1,310,402 shares, compared to its average volume of 1,590,481. 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 stock has a market capitalization of $26.29 billion, a P/E ratio of 135.90, a price-to-earnings-growth ratio of 5.31 and a beta of 0.98. Iron Mountain Incorporated has a 12-month low of $56.28 and a 12-month high of $90.40. The stock’s 50-day moving average price is $82.53 and its 200-day moving average price is $76.20.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.90%. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

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.