Townsquare Capital LLC Buys 4,271 Shares of Iron Mountain Incorporated (NYSE:IRM)

Townsquare Capital LLC raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 72.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,129 shares of the financial services provider’s stock after acquiring an additional 4,271 shares during the period. Townsquare Capital LLC’s holdings in Iron Mountain were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the 3rd quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the second quarter valued at approximately $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $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 worth $6,613,584 in the last three months. 2.10% of the stock is owned by insiders.

Iron Mountain Price Performance

NYSE IRM opened at $121.59 on Tuesday. The company has a market cap of $35.68 billion, a PE ratio of 337.75, a P/E/G ratio of 7.44 and a beta of 0.99. Iron Mountain Incorporated has a 52-week low of $64.66 and a 52-week high of $130.24. 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 firm’s 50 day moving average price is $120.59 and its 200-day moving average price is $106.19.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

Analyst Ratings Changes

A number of analysts have weighed in on IRM shares. Stifel Nicolaus increased their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Six investment 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, the stock currently has an average rating of “Buy” and a consensus price target of $131.00.

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.