Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 209,648 shares of the financial services provider’s stock after purchasing an additional 4,150 shares during the period. The Manufacturers Life Insurance Company’s holdings in Iron Mountain were worth $24,912,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in shares of Iron Mountain by 49.2% during 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 acquiring an additional 1,286,694 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after purchasing an additional 141,675 shares in the last quarter. AGF Management Ltd. increased its position in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew 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 valued at $116,356,000 after buying an additional 402,625 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock valued at $6,613,584 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IRM has been the topic of several recent research reports. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays cut their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Down 0.5 %

Iron Mountain stock opened at $123.67 on Friday. The firm has a market cap of $36.29 billion, a price-to-earnings ratio of 343.54, a P/E/G ratio of 7.47 and a beta of 0.99. The firm has a fifty day moving average price of $120.59 and a two-hundred day moving average price of $105.84. Iron Mountain Incorporated has a fifty-two week low of $62.95 and a fifty-two week high of $130.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.31%. Iron Mountain’s payout ratio is 794.47%.

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.