Savvy Advisors Inc. Takes $209,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Savvy Advisors Inc. purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,761 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other large investors have also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the third quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the 2nd quarter valued at about $32,000. West Branch Capital LLC acquired a new position in Iron Mountain in the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain during the second quarter worth about $36,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the first quarter valued at about $38,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $129.80.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,387 shares of company stock worth $6,971,838. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Up 1.3 %

Shares of NYSE IRM opened at $115.97 on Thursday. The stock has a market cap of $34.03 billion, a P/E ratio of 322.15, a PEG ratio of 6.86 and a beta of 0.99. The business’s fifty day simple moving average is $119.38 and its 200-day simple moving average is $102.56. Iron Mountain Incorporated has a 12-month low of $59.83 and a 12-month high of $130.24. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Iron Mountain Company Profile

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.