Hartford Funds Management Co LLC Purchases 354 Shares of Iron Mountain Incorporated (NYSE:IRM)

Hartford Funds Management Co LLC grew its position in Iron Mountain Incorporated (NYSE:IRM) by 8.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,398 shares of the financial services provider’s stock after buying an additional 354 shares during the period. Hartford Funds Management Co LLC’s holdings in Iron Mountain were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of 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 valued at $349,453,000 after buying an additional 1,286,694 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after buying an additional 141,675 shares in the last quarter. AGF Management Ltd. raised its position in shares of 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 valued at $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Iron Mountain by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after purchasing an additional 6,562 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in shares of Iron Mountain by 45.0% in 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 during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain 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 completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This trade 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 56,125 shares of company stock valued at $6,613,584 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group increased 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. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $129.40.

Iron Mountain Stock Performance

IRM opened at $119.10 on Friday. Iron Mountain Incorporated has a 12-month low of $62.58 and a 12-month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $34.95 billion, a PE ratio of 330.83, a P/E/G ratio of 7.11 and a beta of 0.99. The firm has a 50 day moving average of $119.86 and a two-hundred day moving average of $104.48.

Iron Mountain Announces Dividend

The company 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 dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

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.