Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Iron Mountain Incorporated (NYSE:IRM) by 537.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,170,550 shares of the financial services provider’s stock after acquiring an additional 2,672,821 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.08% of Iron Mountain worth $376,756,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of IRM. Price T Rowe Associates Inc. MD grew its stake in Iron Mountain by 22.9% during the 1st 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 acquiring an additional 110,551 shares in the last quarter. Tidal Investments LLC grew its stake in Iron Mountain by 284.1% during the 1st quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider’s stock valued at $1,477,000 after acquiring an additional 13,621 shares in the last quarter. Swedbank AB purchased a new stake in Iron Mountain during the 1st quarter valued at about $19,445,000. Atria Investments Inc purchased a new stake in Iron Mountain during the 1st quarter valued at about $1,873,000. Finally, PGGM Investments grew its stake in Iron Mountain by 40.7% during the 1st quarter. PGGM Investments now owns 22,369 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 6,475 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.5 %

Shares of Iron Mountain stock opened at $124.24 on Friday. Iron Mountain Incorporated has a 1 year low of $62.95 and a 1 year high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $36.46 billion, a P/E ratio of 345.12, a PEG ratio of 7.47 and a beta of 0.99. The company’s fifty day moving average is $120.22 and its two-hundred day moving average is $105.40.

Iron Mountain Dividend Announcement

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 $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Insider Activity

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated 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 directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock valued at $6,613,584 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays dropped their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $131.00.

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.