OVERSEA CHINESE BANKING Corp Ltd Grows Stock Position in Iron Mountain Incorporated (NYSE:IRM)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 66.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,691 shares of the financial services provider’s stock after purchasing an additional 29,321 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Iron Mountain were worth $8,757,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. WealthPLAN Partners LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $213,000. Entropy Technologies LP increased its position in shares of Iron Mountain by 270.9% during the 3rd quarter. Entropy Technologies LP now owns 28,542 shares of the financial services provider’s stock valued at $3,392,000 after purchasing an additional 20,846 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Iron Mountain by 82.4% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,200 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 2,801 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $31,000. Finally, Tyler Stone Wealth Management increased its holdings in Iron Mountain by 103.8% in the 3rd quarter. Tyler Stone Wealth Management now owns 26,865 shares of the financial services provider’s stock worth $3,192,000 after acquiring an additional 13,686 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.9 %

NYSE IRM opened at $117.44 on Tuesday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.75. The company has a market capitalization of $34.46 billion, a P/E ratio of 326.23, a P/E/G ratio of 7.17 and a beta of 0.99. Iron Mountain Incorporated has a one year low of $58.55 and a one year high of $130.24. The stock has a 50 day moving average price of $119.29 and a 200-day moving average price of $102.21.

Iron Mountain Dividend Announcement

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 given 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 2.44%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Buying and Selling

In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the 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 sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock worth $3,210,575 over the last three months. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IRM shares. Stifel Nicolaus increased their target price 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 increased their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays increased their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Five 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.com, the company has a consensus rating of “Buy” and a consensus target price of $129.80.

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.