Iron Mountain Incorporated (NYSE:IRM) Holdings Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 21.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,376 shares of the financial services provider’s stock after buying an additional 10,984 shares during the quarter. Advisors Asset Management Inc.’s holdings in Iron Mountain were worth $7,531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Strategy Asset Managers LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $844,000. Segall Bryant & Hamill LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at $1,427,000. Prospera Private Wealth LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at $178,000. PNC Financial Services Group Inc. raised its holdings in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Iron Mountain during the 3rd quarter valued at $2,739,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $116.30 on Thursday. The firm’s 50-day moving average is $119.76 and its 200-day moving average is $103.89. Iron Mountain Incorporated has a 52-week low of $62.56 and a 52-week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 323.06, a PEG ratio of 6.88 and a beta of 0.99.

Iron Mountain Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays cut their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $129.40.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is currently owned by company insiders.

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.