Freedom Investment Management Inc. Sells 910 Shares of Iron Mountain Incorporated (NYSE:IRM)

Freedom Investment Management Inc. reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 10.4% during the third quarter, HoldingsChannel.com reports. The fund owned 7,832 shares of the financial services provider’s stock after selling 910 shares during the quarter. Freedom Investment Management Inc.’s holdings in Iron Mountain were worth $931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of IRM. Townsquare Capital LLC raised its holdings in shares of Iron Mountain by 72.9% during the 3rd quarter. Townsquare Capital LLC now owns 10,129 shares of the financial services provider’s stock worth $1,204,000 after acquiring an additional 4,271 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Iron Mountain by 2.0% during the third quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider’s stock valued at $24,912,000 after purchasing an additional 4,150 shares in the last quarter. Associated Banc Corp purchased a new stake in Iron Mountain during the third quarter valued at $1,053,000. Horizon Kinetics Asset Management LLC grew its stake in shares of Iron Mountain by 42.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 34,450 shares of the financial services provider’s stock worth $4,094,000 after buying an additional 10,350 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Iron Mountain by 3,253.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 872 shares of the financial services provider’s stock worth $104,000 after buying an additional 846 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 0.5 %

Shares of IRM opened at $124.24 on Friday. The firm has a market capitalization of $36.46 billion, a price-to-earnings ratio of 345.11, a PEG ratio of 7.26 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 1-year low of $62.95 and a 1-year high of $130.24. The company has a 50-day moving average of $120.22 and a 200 day moving average of $105.40.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid 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 of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays cut their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $131.00.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. The trade was 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 stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,125 shares of company stock worth $6,613,584. Company insiders own 2.10% of the company’s stock.

About Iron Mountain

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.