MML Investors Services LLC Purchases 171 Shares of Iron Mountain Incorporated (NYSE:IRM)

MML Investors Services LLC lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 0.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 90,555 shares of the financial services provider’s stock after purchasing an additional 171 shares during the period. MML Investors Services LLC’s holdings in Iron Mountain were worth $10,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Dorsey Wright & Associates boosted its stake in Iron Mountain by 452.9% during the 3rd quarter. Dorsey Wright & Associates now owns 21,941 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 17,973 shares during the period. Dunhill Financial LLC grew its position in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Iron Mountain by 34.0% during the third quarter. Orion Portfolio Solutions LLC now owns 7,963 shares of the financial services provider’s stock valued at $946,000 after acquiring an additional 2,021 shares during the period. National Bank of Canada FI lifted its position in shares of Iron Mountain by 74.7% in the 3rd quarter. National Bank of Canada FI now owns 168,692 shares of the financial services provider’s stock worth $20,046,000 after acquiring an additional 72,131 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Iron Mountain by 22.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 4,162 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 773 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 2.0 %

Iron Mountain stock opened at $112.03 on Wednesday. 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 stock has a 50-day simple moving average of $120.54 and a 200 day simple moving average of $107.99. The stock has a market capitalization of $32.88 billion, a P/E ratio of 311.19, a PEG ratio of 7.20 and a beta of 0.98. Iron Mountain Incorporated has a 52 week low of $64.68 and a 52 week high of $130.24.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 dividend yield of 2.55%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain 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 completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. 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. Barclays dropped their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus increased 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $131.00.

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.