Healthcare of Ontario Pension Plan Trust Fund Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Iron Mountain Incorporated (NYSE:IRM) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 64,000 shares of the financial services provider’s stock, valued at approximately $5,133,000.

Several other large investors have also recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of Iron Mountain by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 362,134 shares of the financial services provider’s stock worth $29,060,000 after acquiring an additional 1,716 shares during the period. RB Capital Management LLC increased its position in shares of Iron Mountain by 3.1% during the 1st quarter. RB Capital Management LLC now owns 45,962 shares of the financial services provider’s stock valued at $3,687,000 after purchasing an additional 1,372 shares during the period. Bessemer Group Inc. raised its stake in shares of Iron Mountain by 13.8% in the 1st quarter. Bessemer Group Inc. now owns 6,461 shares of the financial services provider’s stock worth $518,000 after buying an additional 781 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Iron Mountain by 34.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,344 shares of the financial services provider’s stock worth $1,231,000 after buying an additional 3,906 shares in the last quarter. Finally, Cynosure Group LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at $306,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 954 shares of the company’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 transaction, the director now owns 35,166 shares in the company, valued at approximately $2,860,050.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO John Tomovcsik sold 2,500 shares of Iron Mountain stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief operating officer now owns 17,866 shares of the company’s stock, valued at $1,786,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter C. Rakowich sold 954 shares of the company’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 in the company, valued at $2,860,050.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,553 shares of company stock worth $8,759,378. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on IRM. Stifel Nicolaus lifted their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Wells Fargo & Company boosted their target price on shares of Iron Mountain from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $86.17.

Iron Mountain Price Performance

IRM opened at $96.88 on Friday. The firm has a market capitalization of $28.40 billion, a P/E ratio of 146.79, a PEG ratio of 5.74 and a beta of 0.98. The stock has a fifty day moving average of $88.83 and a 200-day moving average of $79.48. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $101.38.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.68%. The ex-dividend date was Monday, June 17th. Iron Mountain’s dividend payout ratio is currently 393.95%.

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.