Dorsey Wright & Associates Increases Position in Iron Mountain Incorporated (NYSE:IRM)

Dorsey Wright & Associates boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 452.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,941 shares of the financial services provider's stock after buying an additional 17,973 shares during the quarter. Dorsey Wright & Associates' holdings in Iron Mountain were worth $2,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its position in shares of Iron Mountain by 26.3% in the 2nd quarter. CWM LLC now owns 7,645 shares of the financial services provider's stock worth $685,000 after acquiring an additional 1,593 shares in the last quarter. Czech National Bank raised its position in shares of Iron Mountain by 8.7% in the 2nd quarter. Czech National Bank now owns 55,859 shares of the financial services provider's stock worth $5,006,000 after acquiring an additional 4,483 shares in the last quarter. Nepsis Inc. raised its position in shares of Iron Mountain by 2.2% in the 2nd quarter. Nepsis Inc. now owns 70,251 shares of the financial services provider's stock worth $6,296,000 after acquiring an additional 1,516 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Iron Mountain by 12.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,935 shares of the financial services provider's stock worth $711,000 after acquiring an additional 862 shares in the last quarter. Finally, Terra Nova Asset Management LLC raised its position in shares of Iron Mountain by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider's stock worth $2,905,000 after acquiring an additional 120 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Finally, Wells Fargo & Company boosted their target price on 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $131.00.

Iron Mountain Stock Up 1.5 %

IRM traded up $1.79 during midday trading on Friday, reaching $120.16. 1,131,812 shares of the company were exchanged, compared to its average volume of 1,331,495. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company's fifty day moving average price is $120.76 and its 200 day moving average price is $107.33. The company has a market cap of $35.26 billion, a price-to-earnings ratio of 333.79, a price-to-earnings-growth ratio of 7.12 and a beta of 0.98. Iron Mountain Incorporated has a one year low of $64.66 and a one year high of $130.24.

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 dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio is currently 794.47%.

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.