Strategy Asset Managers LLC Invests $844,000 in Iron Mountain Incorporated (NYSE:IRM)

Strategy Asset Managers LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,101 shares of the financial services provider's stock, valued at approximately $844,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its holdings in Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider's stock valued at $711,000 after purchasing an additional 89 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider's stock valued at $1,351,000 after buying an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. increased its stake in shares of Iron Mountain by 3.6% in the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider's stock worth $340,000 after purchasing an additional 100 shares during the period. Claro Advisors LLC lifted its holdings in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider's stock worth $1,986,000 after buying an additional 103 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in Iron Mountain by 2.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider's stock valued at $511,000 after purchasing an additional 107 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction 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 directly owns 14,829 shares of the company's stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction 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 directly owns 295,650 shares in the company, valued at $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. Insiders have sold 56,125 shares of company stock valued at $6,613,584 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IRM shares. Barclays lowered their price target on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $129.40.

Iron Mountain Stock Down 0.5 %

Shares of NYSE:IRM traded down $0.60 during trading on Wednesday, hitting $115.91. 257,754 shares of the company's stock traded hands, compared to its average volume of 1,595,861. The company has a 50-day moving average price of $119.72 and a 200-day moving average price of $103.81. Iron Mountain Incorporated has a 52 week low of $62.56 and a 52 week high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market cap of $34.01 billion, a price-to-earnings ratio of 323.61, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.47%. Iron Mountain's payout ratio 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.