Erste Asset Management GmbH Buys New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Erste Asset Management GmbH purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 81,400 shares of the financial services provider’s stock, valued at approximately $9,506,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $824,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after buying an additional 12,540 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Iron Mountain by 13.2% during the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock worth $9,766,000 after buying an additional 11,454 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after buying an additional 5,086 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 over the last 90 days. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Barclays cut their target price 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, Wells Fargo & Company increased 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock 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. The firm has a 50 day simple moving average of $120.59 and a 200 day simple moving average of $106.02. Iron Mountain Incorporated has a fifty-two week low of $62.95 and a fifty-two week high of $130.24. The firm has a market cap of $36.29 billion, a P/E ratio of 343.53, a P/E/G ratio of 7.44 and a beta of 0.99.

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