B. Metzler seel. Sohn & Co. Holding AG Acquires New Position in Iron Mountain Incorporated (NYSE:IRM)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the third quarter, Holdings Channel reports. The institutional investor bought 23,047 shares of the financial services provider’s stock, valued at approximately $2,739,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Friedenthal Financial bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $824,000. Price T Rowe Associates Inc. MD raised its position in Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after purchasing an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after buying an additional 12,540 shares during the period. Brookstone Capital Management grew its stake in shares of Iron Mountain by 13.2% during the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after buying an additional 11,454 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Iron Mountain by 36.1% in the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock worth $2,281,000 after buying an additional 5,086 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, November 11th. The stock was 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 directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s 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 transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 56,125 shares of company stock worth $6,613,584. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays dropped their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $129.40.

Iron Mountain Stock Up 2.4 %

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

Iron Mountain Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.40%. 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.