Strategy Asset Managers LLC Makes New $844,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Strategy Asset Managers LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, HoldingsChannel.com reports. The fund purchased 7,101 shares of the financial services provider’s stock, valued at approximately $844,000.

A number of other large investors have also added to or reduced their stakes in IRM. Legal & General Group Plc grew its holdings 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. AGF Management Ltd. grew its holdings 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. Mizuho Securities USA LLC grew its holdings in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after acquiring an additional 495,898 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after acquiring an additional 445,207 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after purchasing an additional 402,625 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.9 %

NYSE:IRM opened at $116.50 on Wednesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $34.19 billion, a P/E ratio of 323.61, a PEG ratio of 6.88 and a beta of 0.99. Iron Mountain Incorporated has a one year low of $61.80 and a one year high of $130.24. The company’s 50-day simple moving average is $119.72 and its 200 day simple moving average is $103.81.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.45%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated 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 of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IRM. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted 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. Finally, The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price 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.