Nwam LLC Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Nwam LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the third quarter, HoldingsChannel.com reports. The fund bought 2,436 shares of the financial services provider’s stock, valued at approximately $289,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC boosted its holdings in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after buying an additional 89 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Iron Mountain by 0.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. grew its position in shares of Iron Mountain by 3.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 100 shares during the period. Claro Advisors LLC increased its stake in shares of Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 103 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in Iron Mountain by 2.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 107 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $120.84 on Tuesday. 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’s fifty day moving average price is $119.91 and its 200-day moving average price is $104.96. Iron Mountain Incorporated has a one year low of $62.58 and a one year high of $130.24. The company has a market capitalization of $35.46 billion, a PE ratio of 335.68, a price-to-earnings-growth ratio of 7.16 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. Shareholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays dropped their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $129.40.

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.