Intech Investment Management LLC Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Intech Investment Management LLC grew its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 42.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,155 shares of the financial services provider's stock after purchasing an additional 62,441 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Iron Mountain worth $24,973,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain during the 3rd quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the second quarter worth $32,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the second quarter worth $36,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain in the second quarter worth $45,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at approximately $34,697,484. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the company'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 transaction, the director now directly owns 14,829 shares of the company's stock, 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. Over the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. Insiders own 2.10% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $116.30 on Thursday. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 323.06, a price-to-earnings-growth ratio of 6.98 and a beta of 0.99. The company has a 50-day moving average price of $119.76 and a 200-day moving average price of $103.89. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $62.56 and a 12 month high of $130.24.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is 794.47%.

Analyst Ratings Changes

IRM has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Barclays lowered their price target on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday. Finally, BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $129.40.

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.

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