Tidal Investments LLC Has $2.44 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Tidal Investments LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 254.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,536 shares of the financial services provider's stock after buying an additional 14,737 shares during the period. Tidal Investments LLC's holdings in Iron Mountain were worth $2,440,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the 3rd quarter worth $31,000. West Branch Capital LLC bought a new stake in Iron Mountain in the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain during the 3rd quarter valued at about $36,000. Family Firm Inc. bought a new stake in shares of Iron Mountain during the second quarter valued at approximately $45,000. Finally, Dunhill Financial LLC grew its holdings in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after buying an additional 152 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 0.2 %

Shares of NYSE:IRM traded up $0.17 during midday trading on Monday, reaching $111.36. The company had a trading volume of 1,316,393 shares, compared to its average volume of 1,588,098. The company has a fifty day simple moving average of $120.07 and a two-hundred day simple moving average of $108.92. The firm has a market cap of $32.68 billion, a price-to-earnings ratio of 309.33, a price-to-earnings-growth 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 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 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 dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.57%. Iron Mountain's dividend payout ratio is currently 794.44%.

Insider Activity at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the 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 completion of the sale, the director now directly owns 14,829 shares of the company's stock, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,997 shares of company stock worth $8,406,961. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IRM shares. Barclays reduced their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, November 18th. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Wells Fargo & Company increased 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 lifted their price target 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 upgraded 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 company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price 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.