Bamco Inc. NY Invests $18.91 Million in Iron Mountain Incorporated (NYSE:IRM)

Bamco Inc. NY bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 159,114 shares of the financial services provider's stock, valued at approximately $18,908,000. Bamco Inc. NY owned approximately 0.05% of Iron Mountain as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atria Investments Inc acquired a new stake in shares of Iron Mountain during the 1st quarter valued at about $1,873,000. EverSource Wealth Advisors LLC lifted its position in shares of Iron Mountain by 169.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider's stock worth $74,000 after buying an additional 600 shares during the period. GAMMA Investing LLC boosted its stake in Iron Mountain by 65.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,979 shares of the financial services provider's stock valued at $267,000 after buying an additional 1,173 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Iron Mountain by 9.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider's stock valued at $121,000 after acquiring an additional 120 shares during the period. Finally, DNB Asset Management AS raised its stake in Iron Mountain by 8.5% during the second quarter. DNB Asset Management AS now owns 48,923 shares of the financial services provider's stock worth $4,384,000 after acquiring an additional 3,822 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares of the company's stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

Shares of IRM traded up $0.36 during midday trading on Tuesday, reaching $121.95. 461,884 shares of the stock were exchanged, compared to its average volume of 1,583,583. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock's 50 day simple moving average is $120.65 and its 200 day simple moving average is $106.47. Iron Mountain Incorporated has a twelve month low of $64.66 and a twelve month high of $130.24. The company has a market cap of $35.79 billion, a P/E ratio of 339.37, a PEG ratio of 7.43 and a beta of 0.98.

Iron Mountain Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.35%. Iron Mountain's dividend payout ratio is presently 794.47%.

Analysts Set New Price Targets

Several equities analysts have issued reports on IRM shares. Wells Fargo & Company lifted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Barclays decreased their price target on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. Finally, Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $131.00.

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.