1,798 Shares in Iron Mountain Incorporated (NYSE:IRM) Purchased by IMS Capital Management

IMS Capital Management purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,798 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other large investors have also recently made changes to their positions in IRM. Ashton Thomas Securities LLC bought a new stake in Iron Mountain in the third quarter valued at $31,000. West Branch Capital LLC bought a new stake in Iron Mountain during the 3rd quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the 3rd quarter worth approximately $36,000. Dunhill Financial LLC raised its position in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays cut their price target 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. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company upped their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Performance

NYSE:IRM opened at $110.13 on Wednesday. The stock has a 50-day simple moving average of $119.90 and a two-hundred day simple moving average of $109.12. 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 Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24. The firm has a market capitalization of $32.32 billion, a PE ratio of 305.92, a P/E/G ratio of 6.77 and a beta of 0.98.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders 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 yield of 2.60%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.44%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The shares were 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 owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,497 shares of company stock valued at $7,417,731 over the last three months. Corporate 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.