Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,105 shares of the financial services provider’s stock after purchasing an additional 497 shares during the period. Coldstream Capital Management Inc.’s holdings in Iron Mountain were worth $843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Iron Mountain by 2.8% in 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 purchasing an additional 1,446 shares in the last quarter. Friedenthal Financial acquired a new stake in Iron Mountain in the 3rd quarter valued at about $824,000. Hennion & Walsh Asset Management Inc. raised its position 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 valued at $6,794,000 after purchasing an additional 12,540 shares in the last quarter. Brookstone Capital Management raised its position in shares of Iron Mountain by 13.2% during the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock worth $9,766,000 after acquiring an additional 11,454 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Iron Mountain by 36.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock worth $2,281,000 after acquiring an additional 5,086 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 71,997 shares of company stock valued at $8,406,961. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

IRM has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, 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. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $131.00.

Iron Mountain Trading Down 0.2 %

IRM opened at $112.92 on Friday. The firm has a market cap of $33.14 billion, a price-to-earnings ratio of 313.67, a price-to-earnings-growth ratio of 7.20 and a beta of 0.98. Iron Mountain Incorporated has a 52 week low of $64.68 and a 52 week high of $130.24. The business’s 50 day moving average is $120.31 and its two-hundred day moving average is $108.06. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The business 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 $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is currently 794.44%.

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.