Assetmark Inc. Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Assetmark Inc. boosted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,535 shares of the financial services provider's stock after buying an additional 5,502 shares during the quarter. Assetmark Inc.'s holdings in Iron Mountain were worth $5,767,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the second quarter worth about $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the third quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the second quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new position in Iron Mountain in the first quarter worth approximately $38,000. Finally, Family Firm Inc. acquired a new position in Iron Mountain during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded down $2.94 on Tuesday, hitting $114.50. 1,734,531 shares of the company were exchanged, compared to its average volume of 1,608,818. Iron Mountain Incorporated has a 1-year low of $58.55 and a 1-year high of $130.24. The firm has a market capitalization of $33.60 billion, a P/E ratio of 322.37, a price-to-earnings-growth ratio of 7.17 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock's 50 day moving average price is $119.29 and its 200 day moving average price is $102.21.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio is presently 794.47%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company's stock, valued at approximately $34,874,874. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $34,874,874. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRM. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted 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. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $129.80.

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.