Creekmur Asset Management LLC Buys Shares of 13,100 Iron Mountain Incorporated (NYSE:IRM)

Creekmur Asset Management LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRMFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,100 shares of the financial services provider’s stock, valued at approximately $917,000.

Other hedge funds also recently made changes to their positions in the company. Cohen & Steers Inc. increased its stake in Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after buying an additional 15,035,937 shares during the last quarter. Norges Bank bought a new stake in Iron Mountain during the fourth quarter worth about $228,391,000. Wellington Management Group LLP boosted its position in Iron Mountain by 315.2% during the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after purchasing an additional 2,286,711 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after purchasing an additional 1,546,592 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Iron Mountain by 214.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after purchasing an additional 1,178,754 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Get Our Latest Analysis on Iron Mountain

Iron Mountain Stock Performance

Iron Mountain stock traded up $0.25 during trading hours on Friday, hitting $88.02. The company had a trading volume of 1,172,300 shares, compared to its average volume of 1,398,098. The firm has a market cap of $25.80 billion, a PE ratio of 133.37, a PEG ratio of 5.27 and a beta of 0.95. The firm has a 50-day moving average of $79.69 and a 200 day moving average of $74.35. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. Iron Mountain Incorporated has a one year low of $53.74 and a one year high of $89.91.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio is currently 393.95%.

Insider Activity

In other news, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the sale, the executive vice president now directly owns 62,938 shares in the company, valued at $5,048,256.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $76.68, for a total value of $1,217,295.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $22,670,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,209 shares of company stock valued at $3,639,643. 2.10% of the stock is owned by company insiders.

Iron Mountain Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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