Iron Mountain Incorporated (NYSE:IRM) Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 397.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,936 shares of the financial services provider’s stock after buying an additional 5,541 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Iron Mountain were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IRM. Geode Capital Management LLC lifted its holdings in Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after acquiring an additional 128,622 shares during the period. Legal & General Group Plc boosted its holdings in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Iron Mountain by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after buying an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after buying an additional 2,672,821 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after acquiring an additional 402,625 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IRM shares. Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays lowered their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $131.00.

Insider Activity

In other news, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 over the last quarter. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $110.80 on Wednesday. The company has a market capitalization of $32.52 billion, a price-to-earnings ratio of 307.80, a PEG ratio of 6.01 and a beta of 1.02. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24. The company’s 50 day simple moving average is $111.11 and its 200 day simple moving average is $112.13.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

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.