222,409 Shares in Iron Mountain Incorporated (NYSE:IRM) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 222,409 shares of the financial services provider's stock, valued at approximately $26,429,000. Point72 Asset Management L.P. owned about 0.08% of Iron Mountain as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in IRM. CWM LLC lifted its holdings in Iron Mountain by 26.3% in the second quarter. CWM LLC now owns 7,645 shares of the financial services provider's stock worth $685,000 after buying an additional 1,593 shares during the period. Capital Investment Advisors LLC grew its stake in Iron Mountain by 1.0% in the second quarter. Capital Investment Advisors LLC now owns 27,031 shares of the financial services provider's stock worth $2,422,000 after purchasing an additional 269 shares during the period. Twelve Points Wealth Management LLC grew its stake in Iron Mountain by 6.0% in the second quarter. Twelve Points Wealth Management LLC now owns 43,010 shares of the financial services provider's stock worth $3,855,000 after purchasing an additional 2,429 shares during the period. Czech National Bank lifted its position in Iron Mountain by 8.7% during the second quarter. Czech National Bank now owns 55,859 shares of the financial services provider's stock valued at $5,006,000 after buying an additional 4,483 shares during the period. Finally, Nepsis Inc. lifted its position in Iron Mountain by 2.2% during the second quarter. Nepsis Inc. now owns 70,251 shares of the financial services provider's stock valued at $6,296,000 after buying an additional 1,516 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of IRM traded up $1.77 during trading hours on Friday, hitting $120.14. The stock had a trading volume of 1,131,775 shares, compared to its average volume of 1,588,296. The firm has a market capitalization of $35.26 billion, a PE ratio of 333.78, a PEG ratio of 7.19 and a beta of 0.98. 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 Incorporated has a 12 month low of $64.66 and a 12 month high of $130.24. The stock has a fifty day moving average price of $120.69 and a 200 day moving average price of $106.90.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 2.38%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's payout ratio is currently 794.44%.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 295,650 shares of the company's stock, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock worth $6,613,584 in the last quarter. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.