True Vision MN LLC Boosts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

True Vision MN LLC grew its position in Iron Mountain Incorporated (NYSE:IRM) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,546 shares of the financial services provider’s stock after acquiring an additional 485 shares during the quarter. True Vision MN LLC’s holdings in Iron Mountain were worth $543,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 in the last quarter. AGF Management Ltd. lifted its position in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after buying an additional 6,562 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. grew its holdings in Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 0.4 %

Shares of NYSE:IRM traded up $0.54 during mid-day trading on Wednesday, reaching $124.15. 34,659 shares of the company were exchanged, compared to its average volume of 1,587,056. 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 current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50-day simple moving average is $119.91 and its 200 day simple moving average is $104.96. The firm has a market cap of $36.43 billion, a price-to-earnings ratio of 343.37, a P/E/G ratio of 7.26 and a beta of 0.99.

Iron Mountain Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.30%. Iron Mountain’s payout ratio is presently 794.47%.

Analysts Set New Price Targets

Several research firms have recently commented on IRM. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. raised their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $129.40.

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.