Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,451 shares of the financial services provider's stock after purchasing an additional 11,685 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Iron Mountain worth $41,882,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blake Schutter Theil Wealth Advisors LLC acquired a new position in Iron Mountain in the 3rd quarter valued at $514,000. Avidian Wealth Enterprises LLC acquired a new position in Iron Mountain in the 3rd quarter valued at $223,000. Crescent Grove Advisors LLC grew its holdings in Iron Mountain by 4.7% in the 3rd quarter. Crescent Grove Advisors LLC now owns 12,843 shares of the financial services provider's stock valued at $1,535,000 after buying an additional 571 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in Iron Mountain by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 570,237 shares of the financial services provider's stock valued at $67,761,000 after buying an additional 3,571 shares in the last quarter. Finally, National Pension Service grew its holdings in Iron Mountain by 15.4% in the 3rd quarter. National Pension Service now owns 459,478 shares of the financial services provider's stock valued at $54,600,000 after buying an additional 61,187 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Down 1.9 %

Shares of NYSE IRM traded down $2.27 during mid-day trading on Monday, reaching $117.44. 1,392,433 shares of the company's stock were exchanged, compared to its average volume of 1,608,232. The firm has a market capitalization of $34.46 billion, a price-to-earnings ratio of 326.23, a PEG ratio of 7.17 and a beta of 0.99. 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 52-week low of $58.55 and a 52-week high of $130.24. The company's 50-day moving average is $119.29 and its 200-day moving average is $102.21.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is 794.47%.

Wall Street Analyst Weigh In

IRM has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 2nd. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Barclays upped their target price on Iron Mountain from $91.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Five investment 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.com, Iron Mountain presently has a consensus rating of "Buy" and a consensus target price of $129.80.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction dated 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 $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock worth $3,210,575 in the last three months. 2.10% of the stock is owned by company 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.