Entropy Technologies LP boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 270.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,542 shares of the financial services provider's stock after purchasing an additional 20,846 shares during the period. Entropy Technologies LP's holdings in Iron Mountain were worth $3,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of IRM. Legal & General Group Plc boosted its holdings in Iron Mountain by 49.2% during the 2nd 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 during the period. AGF Management Ltd. increased its stake in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider's stock worth $201,232,000 after buying an additional 972,101 shares during the period. Bank of New York Mellon Corp boosted its position in Iron Mountain by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider's stock valued at $190,553,000 after buying an additional 6,562 shares during the period. Centersquare Investment Management LLC increased its position in shares of Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider's stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Iron Mountain by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider's stock valued at $116,356,000 after acquiring an additional 402,625 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.
Insider Transactions at Iron Mountain
In related news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction on Monday, October 7th. The shares were 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 directly owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,387 shares of company stock worth $6,971,838 over the last three months. 2.10% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
IRM has been the topic of several research reports. The Goldman Sachs Group raised 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. Barclays upped their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $129.80.
View Our Latest Analysis on IRM
Iron Mountain Stock Performance
Shares of IRM traded down $2.94 during trading hours on Tuesday, reaching $114.50. 1,724,573 shares of the company traded hands, compared to its average volume of 1,608,818. The company has a quick ratio of 0.79, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The business has a fifty day moving average price of $119.29 and a 200-day moving average price of $102.21. Iron Mountain Incorporated has a 12-month low of $58.55 and a 12-month high of $130.24. The stock has a market capitalization of $33.60 billion, a P/E ratio of 322.37, a P/E/G ratio of 7.17 and a beta of 0.99.
Iron Mountain Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio is presently 794.47%.
Iron Mountain Company Profile
(
Free Report)
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.
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