UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 537.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,170,550 shares of the financial services provider's stock after acquiring an additional 2,672,821 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.08% of Iron Mountain worth $376,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in Iron Mountain in the 3rd quarter worth $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the second quarter worth about $32,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the third quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain during the 2nd quarter valued at approximately $36,000. Finally, Family Firm Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on IRM shares. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Barclays reduced their target price 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, November 18th. Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Six equities research 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 company currently has an average rating of "Buy" and an average price target of $131.00.

Insider Activity at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The trade was 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 stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Down 0.4 %

NYSE:IRM traded down $0.49 on Friday, reaching $123.75. 858,209 shares of the stock traded hands, compared to its average volume of 1,587,391. 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 company has a market capitalization of $36.32 billion, a price-to-earnings ratio of 346.43, a PEG ratio of 7.47 and a beta of 0.99. Iron Mountain Incorporated has a 12 month low of $62.95 and a 12 month high of $130.24. The company's fifty day simple moving average is $120.42 and its 200 day simple moving average is $105.53.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.31%. Iron Mountain's payout ratio is currently 794.47%.

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.