M&T Bank Corp Buys 334 Shares of Iron Mountain Incorporated (NYSE:IRM)

M&T Bank Corp grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 88,215 shares of the financial services provider’s stock after acquiring an additional 334 shares during the quarter. M&T Bank Corp’s holdings in Iron Mountain were worth $10,482,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IRM. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $31,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain during the 3rd quarter worth $36,000. Dunhill Financial LLC lifted its position in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the last quarter. Finally, Quarry LP raised its stake in Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on IRM. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Barclays dropped their target price 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Up 3.4 %

Shares of NYSE:IRM opened at $105.10 on Monday. The firm has a market cap of $30.84 billion, a P/E ratio of 291.95, a P/E/G ratio of 6.77 and a beta of 0.98. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24. The business has a fifty day simple moving average of $118.90 and a 200 day simple moving average of $109.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

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 issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is presently 794.44%.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,497 shares of company stock worth $7,417,731. 2.10% of the stock is currently 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.