Tokio Marine Asset Management Co. Ltd. acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,573 shares of the financial services provider's stock, valued at approximately $900,000.
Several other hedge funds have also modified their holdings of IRM. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain in the second quarter valued at $32,000. West Branch Capital LLC acquired a new stake in Iron Mountain in the third quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain in the second quarter valued at $36,000. Finally, Headlands Technologies LLC acquired a new stake in Iron Mountain in the first quarter valued at $38,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now owns 9,049 shares of the company's stock, valued at $993,127.75. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,387 shares of company stock worth $6,971,838 in the last ninety days. Insiders own 2.10% of the company's stock.
Analyst Ratings Changes
IRM has been the topic of a number of analyst reports. Wells Fargo & Company raised 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. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Stifel Nicolaus raised 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. Finally, Barclays raised their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of "Buy" and an average target price of $129.80.
Get Our Latest Stock Report on IRM
Iron Mountain Price Performance
Shares of Iron Mountain stock traded up $1.76 during trading on Friday, hitting $114.88. 1,486,102 shares of the company were exchanged, compared to its average volume of 1,605,212. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a fifty-two week low of $61.59 and a fifty-two week high of $130.24. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 319.09, a P/E/G ratio of 6.95 and a beta of 0.99. The firm has a 50 day moving average price of $119.57 and a 200 day moving average price of $102.89.
Iron Mountain Dividend Announcement
The business also recently disclosed 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. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.49%. Iron Mountain's dividend payout ratio is currently 794.47%.
Iron Mountain Company 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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