Toronto Dominion Bank Has $17.36 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Toronto Dominion Bank increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 146,076 shares of the financial services provider’s stock after purchasing an additional 2,010 shares during the period. Toronto Dominion Bank’s holdings in Iron Mountain were worth $17,358,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Wealth Enhancement Advisory Services LLC lifted its holdings in Iron Mountain by 7.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 113,698 shares of the financial services provider’s stock worth $10,190,000 after purchasing an additional 7,415 shares during the last quarter. ORG Partners LLC acquired a new stake in Iron Mountain in the 2nd quarter worth approximately $144,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain in the 2nd quarter worth approximately $32,000. Assenagon Asset Management S.A. lifted its holdings in Iron Mountain by 3.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 11,280 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 353 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Iron Mountain by 16.5% in the 2nd quarter. Blue Trust Inc. now owns 882 shares of the financial services provider’s stock worth $79,000 after buying an additional 125 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM opened at $112.92 on Friday. The stock has a market cap of $33.14 billion, a PE ratio of 313.67, a P/E/G ratio of 7.20 and a beta of 0.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24. The stock’s 50 day simple moving average is $120.31 and its 200-day simple moving average is $108.06.

Iron Mountain Dividend Announcement

The business also recently declared 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 yield of 2.53%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.44%.

Analyst Upgrades and Downgrades

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

Insider Activity at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 71,997 shares of company stock valued at $8,406,961 in the last 90 days. 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.