Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,421 shares of the financial services provider's stock after buying an additional 5,534 shares during the period. Van ECK Associates Corp's holdings in Iron Mountain were worth $6,330,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. West Branch Capital LLC acquired a new position in Iron Mountain in the third quarter valued at approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain during the second quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the second quarter valued at about $36,000. Headlands Technologies LLC acquired a new position in Iron Mountain in the 1st quarter valued at about $38,000. Finally, Family Firm Inc. purchased a new stake in Iron Mountain during the 2nd quarter valued at approximately $45,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of IRM traded up $3.33 on Friday, reaching $120.25. The stock had a trading volume of 603,137 shares, compared to its average volume of 1,605,998. The firm has a 50-day moving average of $119.08 and a 200 day moving average of $101.28. The firm has a market capitalization of $35.27 billion, a PE ratio of 149.96, a PEG ratio of 7.33 and a beta of 0.99. Iron Mountain Incorporated has a twelve month low of $58.55 and a twelve month high of $130.24. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.38%. Iron Mountain's payout ratio is 366.67%.

Wall Street Analyst Weigh In

Several research firms have recently commented on IRM. JPMorgan Chase & Co. upped their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Barclays raised their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Finally, 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 report on Thursday, October 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Iron Mountain has a consensus rating of "Buy" and an average price target of $129.80.

Insider Activity at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares of the company's stock, valued at $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,637 shares of company stock valued at $3,210,575. Insiders own 2.10% of the company's stock.

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.