Eventide Asset Management LLC Has $40.86 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Eventide Asset Management LLC grew its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,836 shares of the financial services provider's stock after acquiring an additional 43,923 shares during the period. Eventide Asset Management LLC owned about 0.12% of Iron Mountain worth $40,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the 3rd quarter valued at $36,000. Institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted 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. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. 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, the stock presently has an average rating of "Buy" and a consensus target price of $131.00.

Iron Mountain Price Performance

NYSE:IRM traded down $0.57 during trading hours on Friday, reaching $123.67. 858,209 shares of the company were exchanged, compared to its average volume of 1,587,391. The business has a 50 day moving average of $120.59 and a 200 day moving average of $105.84. Iron Mountain Incorporated has a 1-year low of $62.95 and a 1-year high of $130.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $36.29 billion, a P/E ratio of 343.54, a P/E/G ratio of 7.47 and a beta of 0.99.

Iron Mountain Dividend Announcement

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. 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 currently 794.47%.

Insider Activity at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain 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 transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares of the company's stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock valued at $6,613,584 over the last quarter. 2.10% of the stock is owned by corporate insiders.

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.