Summit Trail Advisors LLC Acquires Shares of 4,777 Iron Mountain Incorporated (NYSE:IRM)

Summit Trail Advisors LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the third quarter, HoldingsChannel.com reports. The firm bought 4,777 shares of the financial services provider’s stock, valued at approximately $571,000.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the 3rd quarter worth $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain during the 2nd quarter worth $32,000. West Branch Capital LLC acquired a new position in Iron Mountain in the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain during the second quarter worth about $36,000. Finally, Family Firm Inc. acquired a new stake in Iron Mountain during the second quarter worth about $45,000. 80.13% of the stock is owned by institutional investors.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated 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 directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,125 shares of company stock worth $6,613,584. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

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

Iron Mountain Stock Up 2.3 %

Shares of NYSE:IRM opened at $123.61 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. Iron Mountain Incorporated has a 52-week low of $62.58 and a 52-week high of $130.24. The company has a market capitalization of $36.27 billion, a PE ratio of 343.37, a price-to-earnings-growth ratio of 7.16 and a beta of 0.99. The company has a fifty day moving average of $119.91 and a 200-day moving average of $104.96.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid 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%.

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.