HighTower Advisors LLC Acquires 7,529 Shares of Iron Mountain Incorporated (NYSE:IRM)

HighTower Advisors LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,174 shares of the financial services provider's stock after acquiring an additional 7,529 shares during the quarter. HighTower Advisors LLC's holdings in Iron Mountain were worth $15,581,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Legal & General Group Plc grew its holdings in shares of Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider's stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider's stock worth $402,396,000 after buying an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock worth $376,756,000 after buying an additional 2,672,821 shares during the period. AGF Management Ltd. boosted its position in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider's stock worth $201,232,000 after buying an additional 972,101 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider's stock worth $190,553,000 after buying an additional 6,562 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 1.5 %

IRM traded up $1.79 during trading on Friday, reaching $120.16. 1,131,812 shares of the stock traded hands, compared to its average volume of 1,331,495. Iron Mountain Incorporated has a fifty-two week low of $64.66 and a fifty-two week high of $130.24. The stock's 50-day simple moving average is $120.76 and its two-hundred day simple moving average is $107.33. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The stock 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 Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.38%. Iron Mountain's dividend payout ratio (DPR) is currently 794.47%.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the stock 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. Stifel Nicolaus raised 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. Royal Bank of Canada raised 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. Finally, Barclays reduced their price objective 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $131.00.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $989,230.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 over the last three months. Corporate insiders own 2.10% of the company's stock.

Iron Mountain 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.