Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 19.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,725 shares of the financial services provider's stock after selling 4,521 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Iron Mountain were worth $2,225,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of IRM. Legal & General Group Plc grew its stake in shares of Iron Mountain by 49.2% during the second 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 in the last quarter. AGF Management Ltd. grew its stake in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider's stock valued at $201,232,000 after purchasing an additional 972,101 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider's stock worth $53,312,000 after purchasing an additional 445,207 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Iron Mountain by 45.0% in the 2nd 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 purchasing an additional 402,625 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its stake in shares of Iron Mountain by 8,862.0% during the 2nd quarter. Wulff Hansen & CO. now owns 405,082 shares of the financial services provider's stock valued at $36,303,000 after buying an additional 400,562 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. This represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company's stock, valued at approximately $993,127.75. This represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,387 shares of company stock worth $6,971,838. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on IRM shares. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Stifel Nicolaus increased their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Barclays lifted their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Finally, BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $129.80.

Iron Mountain Stock Performance

IRM traded up $1.76 during trading on Friday, reaching $114.88. 1,486,102 shares of the company were exchanged, compared to its average volume of 1,629,364. The firm has a 50 day moving average of $119.57 and a 200 day moving average of $103.07. The stock has a market cap of $33.71 billion, a P/E ratio of 319.12, a PEG ratio of 6.88 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $61.59 and a 52 week high of $130.24.

Iron Mountain Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.49%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is 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.