Oddo BHF Asset Management Sas Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Oddo BHF Asset Management Sas bought a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 85,888 shares of the financial services provider's stock, valued at approximately $10,206,000.

Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock worth $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Friedenthal Financial purchased a new stake in Iron Mountain in the third quarter valued at about $824,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider's stock worth $6,794,000 after acquiring an additional 12,540 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Iron Mountain by 13.2% during the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider's stock worth $9,766,000 after acquiring an additional 11,454 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock valued at $2,281,000 after purchasing an additional 5,086 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Down 0.9 %

Shares of IRM stock traded down $1.02 during trading on Friday, hitting $111.90. 945,497 shares of the stock traded hands, compared to its average volume of 1,589,226. The firm has a market capitalization of $32.84 billion, a P/E ratio of 310.83, a price-to-earnings-growth ratio of 6.77 and a beta of 0.98. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24. The firm's fifty day moving average price is $120.31 and its 200-day moving average price is $108.06. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders 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 yield of 2.56%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio is currently 794.44%.

Insider Activity

In related news, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,997 shares of company stock worth $8,406,961. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IRM. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Barclays cut their price objective on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Finally, BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $131.00.

Iron Mountain Company Profile

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.