Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,648 shares of the financial services provider’s stock after purchasing an additional 4,150 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Iron Mountain worth $24,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IRM. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC acquired a new position in Iron Mountain in the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at about $36,000. Finally, Family Firm Inc. bought a new position in shares of Iron Mountain during the second quarter valued at approximately $45,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays lowered their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Down 0.5 %

IRM stock opened at $123.67 on Friday. The firm has a market cap of $36.29 billion, a PE ratio of 343.54, a P/E/G ratio of 7.47 and a beta of 0.99. Iron Mountain Incorporated has a 12 month low of $62.95 and a 12 month high of $130.24. 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 firm has a 50 day simple moving average of $120.59 and a 200 day simple moving average of $105.84.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 dividend yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Transactions at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the firm’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 transaction, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. 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 in the last three months. 2.10% of the stock is currently owned by corporate 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.