Ontario Teachers Pension Plan Board Invests $936,000 in Iron Mountain Incorporated (NYSE:IRM)

Ontario Teachers Pension Plan Board acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,873 shares of the financial services provider’s stock, valued at approximately $936,000.

Other large investors have also modified their holdings of the company. Legal & General Group Plc increased its position in Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares in the last quarter. AGF Management Ltd. increased its position in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp increased its position in Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after purchasing an additional 402,625 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Iron Mountain by 5.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider’s stock worth $105,348,000 after purchasing an additional 56,503 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on IRM shares. Barclays lowered their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. 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 and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $129.40.

Iron Mountain Trading Down 0.2 %

Shares of IRM opened at $116.30 on Thursday. The business’s 50-day moving average price is $119.76 and its 200 day moving average price is $103.89. The stock has a market capitalization of $34.13 billion, a P/E ratio of 323.06, a P/E/G ratio of 6.88 and a beta of 0.99. Iron Mountain Incorporated has a 1-year low of $62.56 and a 1-year 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 Announces Dividend

The business also recently declared 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 of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.46%. Iron Mountain’s dividend payout ratio is currently 794.44%.

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.