Dynamic Technology Lab Private Ltd Makes New $271,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Dynamic Technology Lab Private Ltd bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,278 shares of the financial services provider’s stock, valued at approximately $271,000.

Several other large investors have also modified their holdings of the stock. Tidal Investments LLC raised its position in Iron Mountain by 284.1% during the 1st quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider’s stock worth $1,477,000 after buying an additional 13,621 shares during the last quarter. Atria Investments Inc purchased a new position in Iron Mountain during the first quarter worth about $1,873,000. EverSource Wealth Advisors LLC lifted its position in Iron Mountain by 169.5% in the first quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 600 shares during the period. GAMMA Investing LLC boosted its holdings in Iron Mountain by 65.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,979 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Iron Mountain by 9.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IRM shares. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus boosted 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. Barclays lowered their price target 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. Wells Fargo & Company raised 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. Finally, Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Performance

Shares of IRM opened at $123.67 on Monday. Iron Mountain Incorporated has a 12-month low of $62.95 and a 12-month high of $130.24. The stock has a market cap of $36.29 billion, a P/E ratio of 343.53, a PEG ratio of 7.44 and a beta of 0.99. 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 company has a 50-day moving average of $120.59 and a two-hundred day moving average of $106.02.

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 paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is currently 794.44%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is owned by insiders.

About Iron Mountain

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.