Ontario Teachers Pension Plan Board Purchases New Position in Iron Mountain Incorporated (NYSE:IRM)

Ontario Teachers Pension Plan Board purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, HoldingsChannel reports. The firm purchased 7,873 shares of the financial services provider’s stock, valued at approximately $936,000.

Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in Iron Mountain by 21.0% during the third quarter. Advisors Asset Management Inc. now owns 63,376 shares of the financial services provider’s stock worth $7,531,000 after purchasing an additional 10,984 shares during the period. Strategy Asset Managers LLC bought a new stake in Iron Mountain during the third quarter worth approximately $844,000. Segall Bryant & Hamill LLC acquired a new position in shares of Iron Mountain during the third quarter worth approximately $1,427,000. Prospera Private Wealth LLC acquired a new position in shares of Iron Mountain during the third quarter worth approximately $178,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after buying an additional 1,446 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $116.30 on Thursday. The business’s 50-day simple moving average is $119.76 and its 200 day simple moving average is $103.89. The stock has a market cap of $34.13 billion, a price-to-earnings ratio of 323.06, a P/E/G ratio of 6.88 and a beta of 0.99. Iron Mountain Incorporated has a 12-month low of $62.56 and a 12-month high of $130.24. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays cut their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and a consensus target price of $129.40.

Insider Buying and Selling at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by company insiders.

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.