Adelante Capital Management LLC Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Adelante Capital Management LLC boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 89.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,658 shares of the financial services provider's stock after acquiring an additional 14,031 shares during the period. Adelante Capital Management LLC's holdings in Iron Mountain were worth $3,524,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the third quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain during the 2nd quarter valued at about $32,000. West Branch Capital LLC bought a new position in Iron Mountain during the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the 2nd quarter worth approximately $36,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the third quarter valued at approximately $36,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 0.5 %

Shares of Iron Mountain stock traded down $0.57 during trading on Friday, hitting $123.67. The company's stock had a trading volume of 858,209 shares, compared to its average volume of 1,480,683. Iron Mountain Incorporated has a 52 week low of $62.95 and a 52 week high of $130.24. The company has a market capitalization of $36.29 billion, a PE ratio of 343.53, a P/E/G ratio of 7.44 and a beta of 0.99. The company has a fifty day simple moving average of $120.59 and a two-hundred day simple moving average of $106.02. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. Iron Mountain's dividend payout ratio is currently 794.44%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRM. Royal Bank of Canada raised their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Barclays cut their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $131.00.

Insider Buying and Selling

In other Iron Mountain news, 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 value of $989,230.00. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was 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 worth $6,613,584 in the last 90 days. Insiders own 2.10% of the company's stock.

Iron Mountain Company 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.