Public Sector Pension Investment Board Buys 10,410 Shares of Iron Mountain Incorporated (NYSE:IRM)

Public Sector Pension Investment Board grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 25.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,128 shares of the financial services provider’s stock after purchasing an additional 10,410 shares during the period. Public Sector Pension Investment Board’s holdings in Iron Mountain were worth $6,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its position in Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 89 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 92 shares during the period. Schmidt P J Investment Management Inc. boosted its position in shares of Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 100 shares in the last quarter. Claro Advisors LLC grew its stake in Iron Mountain by 0.6% in the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 103 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in Iron Mountain by 2.6% in the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on IRM shares. Barclays dropped their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six 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, the stock has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Trading Down 0.5 %

Shares of NYSE IRM opened at $123.67 on Friday. The firm’s 50 day moving average price is $120.59 and its 200-day moving average price is $105.84. Iron Mountain Incorporated has a 52-week low of $62.95 and a 52-week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $36.29 billion, a PE ratio of 343.54, a P/E/G ratio of 7.47 and a beta of 0.99.

Iron Mountain Announces Dividend

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 is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.31%. Iron Mountain’s dividend payout ratio is 794.47%.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,125 shares of company stock valued at $6,613,584. Corporate insiders own 2.10% of the company’s stock.

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.