The Manufacturers Life Insurance Company Raises Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

The Manufacturers Life Insurance Company raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,648 shares of the financial services provider's stock after purchasing an additional 4,150 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Iron Mountain worth $24,912,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the business'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 in the company, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wells Fargo & Company lifted their price target on 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 upped their price objective 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. Barclays dropped their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, BNP Paribas raised Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of "Buy" and an average price target of $131.00.

Iron Mountain Price Performance

NYSE:IRM traded down $0.57 during trading hours on Friday, hitting $123.67. 858,209 shares of the stock were exchanged, compared to its average volume of 1,480,683. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm's fifty day moving average price is $120.59 and its 200 day moving average price is $106.02. The company has a market cap of $36.29 billion, a P/E ratio of 343.53, a P/E/G ratio of 7.44 and a beta of 0.99. Iron Mountain Incorporated has a 52-week low of $62.95 and a 52-week high of $130.24.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain's payout ratio is 794.44%.

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.