Everence Capital Management Inc. Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Everence Capital Management Inc. lifted its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 136.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,490 shares of the financial services provider's stock after purchasing an additional 11,820 shares during the period. Everence Capital Management Inc.'s holdings in Iron Mountain were worth $2,154,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Iron Mountain by 537.0% during the 3rd 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 valued at $376,756,000 after buying an additional 2,672,821 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider's stock valued at $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. AGF Management Ltd. boosted its stake 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 acquiring an additional 972,101 shares during the period. Mizuho Securities USA LLC grew its position in shares of Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock worth $61,613,000 after purchasing an additional 495,898 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider's stock valued at $53,312,000 after purchasing an additional 445,207 shares during the period. 80.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IRM. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Barclays cut their target price 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, November 18th. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $131.00.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 8,263 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold 140,891 shares of company stock valued at $15,529,517 over the last three months. 2.10% of the stock is owned by company insiders.

Iron Mountain Trading Up 0.9 %

NYSE IRM traded up $0.96 during trading hours on Friday, hitting $105.70. 2,295,094 shares of the company were exchanged, compared to its average volume of 2,395,597. The stock has a market cap of $31.02 billion, a PE ratio of 293.62, a price-to-earnings-growth ratio of 6.70 and a beta of 0.98. Iron Mountain Incorporated has a 52 week low of $64.68 and a 52 week high of $130.24. The stock has a 50-day moving average price of $115.05 and a 200 day moving average price of $110.68. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.71%. Iron Mountain's dividend payout ratio is presently 794.44%.

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.