Iron Mountain Incorporated (NYSE:IRM) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,257,965 shares of the financial services provider's stock after purchasing an additional 128,622 shares during the period. Geode Capital Management LLC owned about 2.81% of Iron Mountain worth $978,479,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock worth $6,402,000 after buying an additional 1,446 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Iron Mountain in the 3rd quarter worth about $824,000. Hennion & Walsh Asset Management Inc. lifted 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 last quarter. Brookstone Capital Management increased its holdings in Iron Mountain by 13.2% in the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider's stock valued at $9,766,000 after buying an additional 11,454 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Iron Mountain by 36.1% during the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock valued at $2,281,000 after buying an additional 5,086 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded down $0.17 on Thursday, hitting $112.92. The company's stock had a trading volume of 1,194,890 shares, compared to its average volume of 1,591,858. The company has a market capitalization of $33.14 billion, a price-to-earnings ratio of 313.67, a price-to-earnings-growth ratio of 7.20 and a beta of 0.98. 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 Incorporated has a 12 month low of $64.68 and a 12 month high of $130.24. The stock's 50-day moving average is $120.31 and its two-hundred day moving average is $108.06.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.53%. Iron Mountain's dividend payout ratio (DPR) is 794.44%.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,125 shares of company stock valued at $6,613,584. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRM. 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. Stifel Nicolaus raised their price target 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. Royal Bank of Canada boosted their price objective 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. 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 note on Monday, November 18th. Finally, BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain has a consensus 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.