Townsquare Capital LLC Raises Stake in Iron Mountain Incorporated (NYSE:IRM)

Townsquare Capital LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 72.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,129 shares of the financial services provider's stock after buying an additional 4,271 shares during the quarter. Townsquare Capital LLC's holdings in Iron Mountain were worth $1,204,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc bought a new stake in Iron Mountain during the first quarter worth $1,873,000. EverSource Wealth Advisors LLC raised its position in Iron Mountain by 169.5% during the first quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider's stock worth $74,000 after acquiring an additional 600 shares in the last quarter. GAMMA Investing LLC raised its position in Iron Mountain by 65.0% during the second quarter. GAMMA Investing LLC now owns 2,979 shares of the financial services provider's stock worth $267,000 after acquiring an additional 1,173 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Iron Mountain by 9.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider's stock worth $121,000 after acquiring an additional 120 shares in the last quarter. Finally, DNB Asset Management AS raised its position in Iron Mountain by 8.5% during the second quarter. DNB Asset Management AS now owns 48,923 shares of the financial services provider's stock worth $4,384,000 after acquiring an additional 3,822 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction 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 sale, the director now owns 14,829 shares of the company's stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction on 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 owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock valued at $6,613,584 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on IRM shares. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. 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. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Barclays decreased their price target on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. Finally, BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $131.00.

Iron Mountain Trading Down 1.1 %

NYSE:IRM traded down $1.36 on Tuesday, reaching $120.23. 2,273,886 shares of the stock traded hands, compared to its average volume of 1,587,891. The firm has a market capitalization of $35.28 billion, a price-to-earnings ratio of 339.37, a price-to-earnings-growth ratio of 7.43 and a beta of 0.98. The company's 50 day moving average is $120.65 and its 200-day moving average is $106.47. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1-year low of $64.66 and a 1-year high of $130.24.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is 794.47%.

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.