Erste Asset Management GmbH Invests $9.51 Million in Iron Mountain Incorporated (NYSE:IRM)

Erste Asset Management GmbH purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 81,400 shares of the financial services provider's stock, valued at approximately $9,506,000.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock valued at $6,402,000 after buying an additional 1,446 shares during the period. Friedenthal Financial acquired a new stake in shares of Iron Mountain during the third quarter worth $824,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider's stock worth $6,794,000 after purchasing an additional 12,540 shares during the period. Brookstone Capital Management raised its position in shares of Iron Mountain by 13.2% during the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider's stock worth $9,766,000 after purchasing an additional 11,454 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Iron Mountain by 36.1% during the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock worth $2,281,000 after purchasing an additional 5,086 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analyst Weigh In

IRM has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Barclays dropped their target price 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. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Six 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 data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $131.00.

Iron Mountain Price Performance

IRM stock traded down $1.68 during midday trading on Monday, reaching $121.99. 425,305 shares of the company's stock traded hands, compared to its average volume of 1,582,220. The company has a 50-day simple moving average of $120.59 and a two-hundred day simple moving average of $106.19. Iron Mountain Incorporated has a 1-year low of $64.66 and a 1-year high of $130.24. The company has a market cap of $35.80 billion, a price-to-earnings ratio of 343.53, a PEG ratio of 7.44 and a beta of 0.99. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders 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 yield of 2.34%. Iron Mountain's payout ratio is 794.44%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company's stock, valued at $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value 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. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,125 shares of company stock worth $6,613,584. 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.