ClearAlpha Technologies LP Purchases Shares of 5,128 Iron Mountain Incorporated (NYSE:IRM)

ClearAlpha Technologies LP purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,128 shares of the financial services provider’s stock, valued at approximately $609,000.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Iron Mountain during the third quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain during the second quarter worth about $32,000. West Branch Capital LLC bought a new position in shares of Iron Mountain in the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain in the second quarter valued at approximately $36,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the third quarter valued at approximately $36,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of several research reports. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays reduced their price objective 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. Royal Bank of Canada boosted 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. Finally, Wells Fargo & Company increased their price target 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $131.00.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 in the last three months. 2.10% of the stock is owned by insiders.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $123.67 on Monday. 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 one year low of $62.95 and a one year high of $130.24. The business’s 50 day simple moving average is $120.59 and its two-hundred day simple moving average is $106.02. The stock has a market capitalization of $36.29 billion, a P/E ratio of 343.53, a price-to-earnings-growth ratio of 7.44 and a beta of 0.99.

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 paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is 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.