Optimum Investment Advisors Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Optimum Investment Advisors bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 750 shares of the financial services provider’s stock, valued at approximately $60,000.

Several other hedge funds have also made changes to their positions in IRM. BTC Capital Management Inc. bought a new position in shares of Iron Mountain in the 1st quarter worth $273,000. Park Avenue Securities LLC raised its position in shares of Iron Mountain by 24.4% in the 1st quarter. Park Avenue Securities LLC now owns 19,851 shares of the financial services provider’s stock worth $1,592,000 after acquiring an additional 3,895 shares in the last quarter. Czech National Bank raised its position in shares of Iron Mountain by 0.5% in the 1st quarter. Czech National Bank now owns 51,376 shares of the financial services provider’s stock worth $4,121,000 after acquiring an additional 236 shares in the last quarter. Green Alpha Advisors LLC raised its position in shares of Iron Mountain by 23.9% in the 1st quarter. Green Alpha Advisors LLC now owns 27,127 shares of the financial services provider’s stock worth $2,176,000 after acquiring an additional 5,230 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Iron Mountain in the 1st quarter worth $191,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $75.35, for a total transaction of $113,025.00. Following the sale, the director now owns 24,491 shares in the company, valued at approximately $1,845,396.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares in the company, valued at approximately $5,048,256.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now owns 24,491 shares in the company, valued at approximately $1,845,396.85. The disclosure for this sale can be found here. Insiders have sold 63,227 shares of company stock valued at $5,125,392 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.0 %

Shares of NYSE:IRM opened at $88.86 on Friday. The business’s 50-day moving average is $80.84 and its 200 day moving average is $75.18. Iron Mountain Incorporated has a 1 year low of $53.74 and a 1 year high of $89.91. The firm has a market capitalization of $26.05 billion, a P/E ratio of 134.64, a P/E/G ratio of 5.26 and a beta of 0.95. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.93%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio is currently 393.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IRM. Barclays boosted their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Wells Fargo & Company boosted their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.80.

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.