Cardinal Point Capital Management ULC Purchases New Shares in Iron Mountain Incorporated (NYSE:IRM)

Cardinal Point Capital Management ULC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,200 shares of the financial services provider's stock, valued at approximately $1,079,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the third quarter worth $31,000. West Branch Capital LLC acquired a new position in Iron Mountain during the 3rd quarter worth about $33,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the 3rd quarter worth about $36,000. Dunhill Financial LLC increased its position in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 152 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Iron Mountain by 86.5% in the third quarter. Quarry LP now owns 496 shares of the financial services provider's stock worth $59,000 after acquiring an additional 230 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,016 shares of company stock worth $13,666,427. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

IRM has been the topic of several research analyst reports. Stifel Nicolaus increased their price target 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 decreased their price objective on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $131.00.

Iron Mountain Stock Up 1.7 %

NYSE IRM traded up $1.75 on Tuesday, reaching $103.99. The company had a trading volume of 1,371,703 shares, compared to its average volume of 2,028,670. The company's fifty day moving average is $112.30 and its 200-day moving average is $111.40. Iron Mountain Incorporated has a 1-year low of $64.68 and a 1-year high of $130.24. The firm has a market capitalization of $30.52 billion, a price-to-earnings ratio of 288.87, a price-to-earnings-growth ratio of 6.70 and a beta of 1.02. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Monday, December 16th. Iron Mountain's dividend payout ratio is presently 794.44%.

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.