Cooper Financial Group Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Cooper Financial Group raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,952 shares of the financial services provider’s stock after acquiring an additional 140 shares during the period. Cooper Financial Group’s holdings in Iron Mountain were worth $310,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after purchasing an additional 2,672,821 shares during the period. Legal & General Group Plc grew its position in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares during the last quarter. Mizuho Securities USA LLC increased its stake in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after buying an additional 495,898 shares during the period. International Assets Investment Management LLC raised its position in Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after buying an additional 445,207 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after acquiring an additional 402,625 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM stock opened at $103.99 on Wednesday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $30.52 billion, a PE ratio of 288.87, a P/E/G ratio of 6.70 and a beta of 1.02. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24. The stock has a fifty day moving average price of $112.30 and a 200 day moving average price of $111.40.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.75%. Iron Mountain’s dividend payout ratio is presently 794.44%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their target price on 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 lifted 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. Barclays cut their price objective 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. Finally, 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average target price of $131.00.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred 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 directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,016 shares of company stock valued at $13,666,427. Insiders own 2.10% of the company’s stock.

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.