Cerity Partners LLC Buys 9,442 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cerity Partners LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 47.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,362 shares of the financial services provider’s stock after purchasing an additional 9,442 shares during the quarter. Cerity Partners LLC’s holdings in Iron Mountain were worth $3,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the third quarter worth $31,000. West Branch Capital LLC bought a new stake in Iron Mountain during the 3rd quarter worth $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain in the second quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the second quarter valued at about $36,000. Finally, Family Firm Inc. bought a new stake in shares of Iron Mountain during the second quarter worth about $45,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, 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 transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus raised 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. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Performance

Shares of IRM opened at $123.75 on Friday. The stock has a 50-day moving average of $120.42 and a 200-day moving average of $105.53. Iron Mountain Incorporated has a one year low of $62.95 and a one year 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. The company has a market cap of $36.32 billion, a PE ratio of 346.43, a P/E/G ratio of 7.47 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 dividend yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Iron Mountain Company 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.