GAMMA Investing LLC Raises Stake in Iron Mountain Incorporated (NYSE:IRM)

GAMMA Investing LLC grew its position in Iron Mountain Incorporated (NYSE:IRM) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,329 shares of the financial services provider’s stock after purchasing an additional 535 shares during the quarter. GAMMA Investing LLC’s holdings in Iron Mountain were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of IRM. National Bank of Canada FI lifted its position in shares of Iron Mountain by 20.0% in the second quarter. National Bank of Canada FI now owns 96,561 shares of the financial services provider’s stock valued at $8,660,000 after acquiring an additional 16,080 shares in the last quarter. Private Advisor Group LLC lifted its stake in Iron Mountain by 10.4% in the 2nd quarter. Private Advisor Group LLC now owns 93,985 shares of the financial services provider’s stock worth $8,423,000 after purchasing an additional 8,877 shares in the last quarter. SVB Wealth LLC boosted its holdings in shares of Iron Mountain by 1.4% during the 2nd quarter. SVB Wealth LLC now owns 15,139 shares of the financial services provider’s stock valued at $1,357,000 after purchasing an additional 212 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Iron Mountain during the second quarter valued at about $209,000. Finally, Caprock Group LLC boosted its stake in Iron Mountain by 21.0% during the second quarter. Caprock Group LLC now owns 3,998 shares of the financial services provider’s stock valued at $361,000 after buying an additional 694 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of the firm’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 transaction, 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 filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock worth $13,666,427 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IRM shares. Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays reduced their price objective on 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 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 boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Six 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 company has an average rating of “Buy” and an average price target of $131.00.

Iron Mountain Price Performance

Shares of IRM stock opened at $105.70 on Monday. The stock has a 50 day moving average price of $115.05 and a 200 day moving average price of $110.84. The firm has a market capitalization of $31.02 billion, a P/E ratio of 293.62, a P/E/G ratio of 6.70 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24.

Iron Mountain Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Iron Mountain 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.