Advisors Asset Management Inc. Acquires 10,984 Shares of Iron Mountain Incorporated (NYSE:IRM)

Advisors Asset Management Inc. boosted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 21.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 63,376 shares of the financial services provider's stock after buying an additional 10,984 shares during the period. Advisors Asset Management Inc.'s holdings in Iron Mountain were worth $7,531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain during the 2nd quarter valued at $32,000. West Branch Capital LLC acquired a new position in Iron Mountain during the 3rd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain in the 2nd quarter valued at about $36,000. Finally, Family Firm Inc. bought a new stake in Iron Mountain during the second quarter worth approximately $45,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

IRM stock traded up $1.81 during trading on Thursday, hitting $118.11. The company had a trading volume of 197,969 shares, compared to its average volume of 1,591,666. The company has a market cap of $34.66 billion, a P/E ratio of 323.06, a P/E/G ratio of 6.98 and a beta of 0.99. The company has a fifty day moving average price of $119.76 and a two-hundred day moving average price of $103.89. Iron Mountain Incorporated has a fifty-two week low of $62.58 and a fifty-two week high of $130.24. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is currently 794.47%.

Insider Activity at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company's stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the chief executive officer now owns 295,650 shares of the company's stock, valued at $34,697,484. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 in the last ninety days. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted 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 note on Wednesday, November 6th. Barclays lowered their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $129.40.

About Iron Mountain

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.