Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,482 shares of the financial services provider’s stock after buying an additional 414 shares during the period. Empowered Funds LLC’s holdings in Iron Mountain were worth $1,602,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake 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 worth $349,453,000 after buying an additional 1,286,694 shares during the last quarter. AGF Management Ltd. boosted its position in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after purchasing an additional 445,207 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after purchasing an additional 402,625 shares during the period. Finally, Wulff Hansen & CO. increased its position in Iron Mountain by 8,862.0% during the second quarter. Wulff Hansen & CO. now owns 405,082 shares of the financial services provider’s stock worth $36,303,000 after purchasing an additional 400,562 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Up 2.4 %

Shares of NYSE:IRM opened at $119.14 on Friday. Iron Mountain Incorporated has a 12-month low of $62.58 and a 12-month high of $130.24. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $34.96 billion, a P/E ratio of 330.94, a price-to-earnings-growth ratio of 6.98 and a beta of 0.99. The firm has a fifty day moving average of $119.82 and a two-hundred day moving average of $104.00.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.40%. Iron Mountain’s payout ratio is currently 794.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IRM shares. The Goldman Sachs Group raised their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays dropped their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $129.40.

Insiders Place Their Bets

In related news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the business’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 value 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 represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Company 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.