Advisors Asset Management Inc. Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Advisors Asset Management Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 2.3% during the first quarter, HoldingsChannel.com reports. The firm owned 53,850 shares of the financial services provider’s stock after purchasing an additional 1,203 shares during the period. Advisors Asset Management Inc.’s holdings in Iron Mountain were worth $4,319,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Shell Asset Management Co. raised its holdings in shares of Iron Mountain by 23.1% in the first quarter. Shell Asset Management Co. now owns 46,450 shares of the financial services provider’s stock worth $3,726,000 after buying an additional 8,716 shares during the period. InterOcean Capital Group LLC lifted its position in shares of Iron Mountain by 4.8% during the first quarter. InterOcean Capital Group LLC now owns 18,360 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 834 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Iron Mountain during the first quarter valued at $5,133,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Iron Mountain by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 362,134 shares of the financial services provider’s stock valued at $29,060,000 after purchasing an additional 1,716 shares during the period. Finally, RB Capital Management LLC grew its holdings in shares of Iron Mountain by 3.1% in the first quarter. RB Capital Management LLC now owns 45,962 shares of the financial services provider’s stock worth $3,687,000 after purchasing an additional 1,372 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.7 %

Iron Mountain stock traded up $1.60 during trading hours on Friday, reaching $98.50. The stock had a trading volume of 1,193,311 shares, compared to its average volume of 1,642,411. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $101.38. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 149.24, a PEG ratio of 5.74 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day moving average price is $89.17 and its 200-day moving average price is $79.70.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were paid a dividend of $0.65 per share. The ex-dividend date was Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.64%. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

Insider Activity at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 2,500 shares of Iron Mountain stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now directly owns 17,866 shares of the company’s stock, valued at $1,786,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Iron Mountain news, COO John Tomovcsik sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the chief operating officer now directly owns 17,866 shares in the company, valued at $1,786,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. Insiders sold 100,553 shares of company stock valued at $8,759,378 over the last 90 days. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IRM shares. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group raised their price target on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Wells Fargo & Company boosted their price target on shares of Iron Mountain from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. One 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.17.

Iron Mountain Company 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.