True Vision MN LLC Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

True Vision MN LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,546 shares of the financial services provider’s stock after purchasing an additional 485 shares during the period. True Vision MN LLC’s holdings in Iron Mountain were worth $543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRM. PNC Financial Services Group Inc. increased its position in 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 buying an additional 1,446 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $824,000. Price T Rowe Associates Inc. MD raised its position in shares of Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after purchasing an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after purchasing an additional 12,540 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in Iron Mountain by 13.2% during the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after purchasing an additional 11,454 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Iron Mountain stock traded up $0.54 during midday trading on Wednesday, hitting $124.15. 34,659 shares of the company were exchanged, compared to its average volume of 1,587,056. Iron Mountain Incorporated has a fifty-two week low of $62.95 and a fifty-two week high of $130.24. The firm has a market capitalization of $36.43 billion, a PE ratio of 343.37, a price-to-earnings-growth ratio of 7.26 and a beta of 0.99. The business has a fifty day simple moving average of $119.91 and a two-hundred day simple moving average of $104.96. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Announces Dividend

The company also recently announced 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. This represents a $2.86 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Analyst Ratings Changes

Several equities research analysts have recently commented on IRM shares. Barclays lowered their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group raised 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. 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 report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. 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.com, the stock has a consensus rating of “Buy” and a consensus target price of $129.40.

Insider Activity at Iron Mountain

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

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.