PNC Financial Services Group Inc. Has $6.40 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

PNC Financial Services Group Inc. increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,877 shares of the financial services provider’s stock after purchasing an additional 1,446 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Iron Mountain were worth $6,402,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Friedenthal Financial purchased a new stake in shares of Iron Mountain during the 3rd quarter worth about $824,000. Price T Rowe Associates Inc. MD lifted its stake in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after acquiring an additional 12,540 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Iron Mountain by 13.2% during the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock worth $9,766,000 after purchasing an additional 11,454 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Iron Mountain by 36.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IRM shares. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Barclays reduced 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 note on Monday, November 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $129.40.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $119.10 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 market cap of $34.95 billion, a P/E ratio of 330.83, a P/E/G ratio of 7.11 and a beta of 0.99. The business’s 50 day moving average is $119.86 and its two-hundred day moving average is $104.48. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 794.44%.

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.