Principal Financial Group Inc. Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

Principal Financial Group Inc. increased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,451 shares of the financial services provider's stock after acquiring 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider's stock worth $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. AGF Management Ltd. boosted its position in shares of 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 acquiring an additional 972,101 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock valued at $61,613,000 after purchasing an additional 495,898 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Iron Mountain by 12,953.4% in the third 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. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

NYSE IRM traded up $0.36 during mid-day trading on Tuesday, reaching $105.58. 767,736 shares of the stock were exchanged, compared to its average volume of 1,614,672. The company has a market capitalization of $30.98 billion, a P/E ratio of 293.29, a P/E/G ratio of 6.77 and a beta of 0.98. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24. The business's 50 day moving average is $118.25 and its 200-day moving average is $109.87. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is 794.44%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Barclays lowered their price objective on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, November 18th. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Finally, BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $131.00.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,872 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,497 shares of company stock valued at $7,417,731. Insiders own 2.10% of the company's stock.

Iron Mountain 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.