Iron Mountain Incorporated (NYSE:IRM) Stake Lifted by CWA Asset Management Group LLC

CWA Asset Management Group LLC increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 572.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,568 shares of the financial services provider’s stock after purchasing an additional 11,549 shares during the period. CWA Asset Management Group LLC’s holdings in Iron Mountain were worth $1,426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Nordea Investment Management AB raised its stake in shares of Iron Mountain by 2.5% in the 4th quarter. Nordea Investment Management AB now owns 27,961 shares of the financial services provider’s stock worth $2,907,000 after buying an additional 685 shares in the last quarter. Everence Capital Management Inc. raised its position in Iron Mountain by 136.3% in the fourth quarter. Everence Capital Management Inc. now owns 20,490 shares of the financial services provider’s stock worth $2,154,000 after acquiring an additional 11,820 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Iron Mountain by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 4,329 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 535 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Iron Mountain by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock valued at $41,882,000 after purchasing an additional 11,685 shares in the last quarter. Finally, IMS Capital Management acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $214,000. 80.13% of the stock is owned by institutional investors.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock worth $13,666,427 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $103.35 on Tuesday. The company has a market capitalization of $30.33 billion, a price-to-earnings ratio of 287.09, 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 company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock’s fifty day simple moving average is $114.56 and its 200-day simple moving average is $110.94.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders 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 2.77%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

Analysts Set New Price Targets

Several analysts recently commented on IRM shares. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays reduced their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $131.00.

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.