Citigroup Inc. Purchases 20,905 Shares of Iron Mountain Incorporated (NYSE:IRM)

Citigroup Inc. boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 268,389 shares of the financial services provider’s stock after acquiring an additional 20,905 shares during the period. Citigroup Inc. owned 0.09% of Iron Mountain worth $31,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC bought a new position in shares of Iron Mountain in the third quarter valued at $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Iron Mountain during the second quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the second quarter worth about $36,000. Finally, Family Firm Inc. acquired a new stake in shares of Iron Mountain in the 2nd quarter worth about $45,000. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on IRM. The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. 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 note on Friday, August 2nd. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $129.40.

Iron Mountain Trading Up 1.5 %

NYSE IRM opened at $120.84 on Tuesday. The business’s fifty day moving average is $119.91 and its 200-day moving average is $104.96. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $35.46 billion, a price-to-earnings ratio of 335.68, a PEG ratio of 7.16 and a beta of 0.99. Iron Mountain Incorporated has a one year low of $62.58 and a one year high of $130.24.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the 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 transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction 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. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 in the last three months. Company insiders own 2.10% of the company’s stock.

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.