Iron Mountain Incorporated (NYSE:IRM) Position Increased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 36.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,192 shares of the financial services provider’s stock after acquiring an additional 5,086 shares during the period. Oppenheimer & Co. Inc.’s holdings in Iron Mountain were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in IRM. MQS Management LLC bought a new stake in Iron Mountain in the 3rd quarter valued at about $205,000. Savvy Advisors Inc. acquired a new stake in Iron Mountain in the third quarter worth about $209,000. Ashton Thomas Private Wealth LLC increased its stake in Iron Mountain by 40.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider’s stock valued at $270,000 after buying an additional 651 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Iron Mountain by 66.1% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 73,691 shares of the financial services provider’s stock worth $8,757,000 after buying an additional 29,321 shares in the last quarter. Finally, WealthPLAN Partners LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $213,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

IRM stock opened at $114.88 on Friday. Iron Mountain Incorporated has a one year low of $61.59 and a one year high of $130.24. The firm has a 50-day moving average of $119.57 and a two-hundred day moving average of $103.07. The firm has a market capitalization of $33.71 billion, a PE ratio of 319.12, a P/E/G ratio of 6.95 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.47%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,387 shares of company stock worth $6,971,838. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IRM shares. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays boosted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $129.80.

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.