OVERSEA CHINESE BANKING Corp Ltd Raises Stock Position in Iron Mountain Incorporated (NYSE:IRM)

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 66.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,691 shares of the financial services provider's stock after acquiring an additional 29,321 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Iron Mountain were worth $8,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the third quarter worth $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the third quarter worth $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the second quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain in the second quarter worth $36,000. Finally, Headlands Technologies LLC purchased a new stake in Iron Mountain in the first quarter worth $38,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE IRM traded down $1.83 during trading on Tuesday, hitting $115.61. The company had a trading volume of 474,311 shares, compared to its average volume of 1,603,063. The stock has a 50 day simple moving average of $119.29 and a 200 day simple moving average of $102.21. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.75. Iron Mountain Incorporated has a 12 month low of $58.55 and a 12 month high of $130.24. The firm has a market capitalization of $33.93 billion, a P/E ratio of 322.37, a price-to-earnings-growth ratio of 7.17 and a beta of 0.99.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio is currently 794.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Barclays increased their target price on 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 increased their target price on 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. increased their target price on 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 stock a "buy" rating in a research note on Monday, September 23rd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $129.80.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was 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 owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now owns 9,049 shares of the company's stock, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,637 shares of company stock worth $3,210,575. 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.