World Investment Advisors LLC Acquires New Shares in Iron Mountain Incorporated (NYSE:IRM)

World Investment Advisors LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the third quarter, according to its most recent filing with the SEC. The fund acquired 4,664 shares of the financial services provider’s stock, valued at approximately $554,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares during the period. Legal & General Group Plc increased its stake in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Iron Mountain by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after acquiring an additional 141,675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Finally, AGF Management Ltd. increased its stake in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $131.00.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction 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 $35,173,480.50. This represents a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last three months, insiders sold 63,497 shares of company stock worth $7,417,731. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Price Performance

IRM opened at $110.13 on Wednesday. The stock has a 50-day moving average price of $119.90 and a 200-day moving average price of $109.12. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $32.32 billion, a P/E ratio of 305.92, a PEG ratio of 6.77 and a beta of 0.98.

Iron Mountain Announces Dividend

The company 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 $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is currently 794.44%.

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.