1,725 Shares in Iron Mountain Incorporated (NYSE:IRM) Bought by MQS Management LLC

MQS Management LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,725 shares of the financial services provider’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Friedenthal Financial purchased a new stake in shares of Iron Mountain during the third quarter worth $824,000. Price T Rowe Associates Inc. MD raised its holdings in Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after buying an additional 110,551 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after buying an additional 12,540 shares in the last quarter. Brookstone Capital Management raised its holdings in Iron Mountain by 13.2% during the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after buying an additional 11,454 shares in the last quarter. Finally, Goldstone Financial Group LLC bought a new position in Iron Mountain during the third quarter valued at about $540,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.5 %

IRM stock opened at $114.87 on Friday. Iron Mountain Incorporated has a twelve month low of $61.59 and a twelve month high of $130.24. The company has a market cap of $33.71 billion, a PE ratio of 319.09, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99. The business’s 50-day simple moving average is $119.57 and its 200 day simple moving average is $102.89. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IRM shares. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays raised their target price on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $129.80.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,387 shares of company stock valued at $6,971,838 over the last three months. 2.10% of the stock is owned by corporate insiders.

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.