Wilmington Savings Fund Society FSB Buys New Position in Iron Mountain Incorporated (NYSE:IRM)

Wilmington Savings Fund Society FSB purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,047 shares of the financial services provider’s stock, valued at approximately $837,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after buying an additional 1,446 shares during the last quarter. Friedenthal Financial acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $824,000. Oppenheimer & Co. Inc. grew its stake in shares of Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares during the last quarter. Goldstone Financial Group LLC acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $540,000. Finally, Entropy Technologies LP lifted its holdings in shares of Iron Mountain by 270.9% during the third quarter. Entropy Technologies LP now owns 28,542 shares of the financial services provider’s stock worth $3,392,000 after purchasing an additional 20,846 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays cut their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Down 0.9 %

Shares of NYSE:IRM opened at $111.90 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 310.83, a PEG ratio of 6.77 and a beta of 0.98. The stock’s 50-day moving average price is $120.18 and its two-hundred day moving average price is $108.69. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24.

Iron Mountain Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.56%. Iron Mountain’s dividend payout ratio is presently 794.44%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,997 shares of company stock worth $8,406,961. 2.10% of the stock is owned by company insiders.

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.