Savoie Capital LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,545 shares of the financial services provider's stock, valued at approximately $1,372,000.
Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain in the 3rd quarter valued at $36,000. Finally, Family Firm Inc. acquired a new stake in shares of Iron Mountain during the second quarter worth $45,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have weighed in on IRM shares. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Finally, Barclays dropped their target price on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $131.00.
Get Our Latest Analysis on Iron Mountain
Iron Mountain Price Performance
NYSE IRM traded down $2.08 during trading hours on Tuesday, hitting $112.26. The company had a trading volume of 1,233,392 shares, compared to its average volume of 1,587,471. The firm has a 50 day simple moving average of $120.67 and a 200 day simple moving average of $107.77. 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 Incorporated has a 52 week low of $64.68 and a 52 week high of $130.24. The firm has a market capitalization of $32.94 billion, a price-to-earnings ratio of 317.64, a PEG ratio of 7.20 and a beta of 0.98.
Iron Mountain Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.55%. Iron Mountain's payout ratio is currently 794.44%.
Insider Buying and Selling
In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares of the company's stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,125 shares of company stock worth $6,613,584. Corporate insiders own 2.10% of the company's stock.
Iron Mountain Profile
(
Free Report)
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.
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