Harvest Fund Management Co. Ltd Acquires 7,122 Shares of Iron Mountain Incorporated (NYSE:IRM)

Harvest Fund Management Co. Ltd increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 65.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 17,988 shares of the financial services provider’s stock after buying an additional 7,122 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Iron Mountain were worth $2,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Legal & General Group Plc boosted its position in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after buying an additional 141,675 shares during the last quarter. AGF Management Ltd. grew its position in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after buying an additional 972,101 shares during the period. Bank of New York Mellon Corp increased its holdings in Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after buying an additional 6,562 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after acquiring an additional 402,625 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 over the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRM. Stifel Nicolaus boosted their price objective 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. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $129.40.

Iron Mountain Stock Performance

NYSE:IRM opened at $120.84 on Tuesday. The stock has a 50-day moving average price of $119.91 and a 200 day moving average price of $104.96. The stock has a market capitalization of $35.46 billion, a P/E ratio of 335.68, a P/E/G ratio of 7.16 and a beta of 0.99. Iron Mountain Incorporated has a 12-month low of $62.58 and a 12-month 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.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 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.