Public Sector Pension Investment Board Increases Position in Iron Mountain Incorporated (NYSE:IRM)

Public Sector Pension Investment Board raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,128 shares of the financial services provider's stock after purchasing an additional 10,410 shares during the period. Public Sector Pension Investment Board's holdings in Iron Mountain were worth $6,076,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tidal Investments LLC boosted its stake in shares of Iron Mountain by 284.1% in the 1st quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider's stock valued at $1,477,000 after purchasing an additional 13,621 shares during the last quarter. Atria Investments Inc acquired a new stake in Iron Mountain during the 1st quarter worth about $1,873,000. Cetera Investment Advisers raised its position in shares of Iron Mountain by 708.9% in the 1st quarter. Cetera Investment Advisers now owns 229,863 shares of the financial services provider's stock worth $18,437,000 after acquiring an additional 201,448 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of Iron Mountain by 14.7% in the 1st quarter. Cetera Advisors LLC now owns 69,505 shares of the financial services provider's stock valued at $5,575,000 after purchasing an additional 8,917 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Iron Mountain by 169.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 600 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company's stock, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Stock Down 0.5 %

IRM traded down $0.57 during midday trading on Friday, reaching $123.67. 858,209 shares of the company were exchanged, compared to its average volume of 1,480,683. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 343.53, a price-to-earnings-growth ratio of 7.44 and a beta of 0.99. Iron Mountain Incorporated has a one year low of $62.95 and a one year high of $130.24. The company's fifty day moving average price is $120.59 and its 200 day moving average price is $106.02. 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 Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain's payout ratio is currently 794.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IRM shares. Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, November 18th. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday. Stifel Nicolaus upped their price objective 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. Finally, Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $131.00.

Iron Mountain Company 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.