Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 21.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,376 shares of the financial services provider’s stock after purchasing an additional 10,984 shares during the quarter. Advisors Asset Management Inc.’s holdings in Iron Mountain were worth $7,531,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain during the third quarter worth about $31,000. West Branch Capital LLC acquired a new stake in Iron Mountain during the third quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain during the second quarter worth about $36,000. Finally, Family Firm Inc. acquired a new stake in Iron Mountain during the second quarter worth about $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their position. 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 over the last ninety days. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 0.2 %

IRM stock opened at $116.30 on Thursday. Iron Mountain Incorporated has a 12 month low of $62.56 and a 12 month high of $130.24. The firm has a market cap of $34.13 billion, a PE ratio of 323.06, a P/E/G ratio of 6.88 and a beta of 0.99. The firm has a 50 day simple moving average of $119.76 and a 200 day simple moving average of $103.89. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays decreased their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $129.40.

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.