Erste Asset Management GmbH Acquires New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Erste Asset Management GmbH purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, HoldingsChannel.com reports. The fund purchased 81,400 shares of the financial services provider’s stock, valued at approximately $9,506,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc lifted its position in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Iron Mountain by 4.4% during 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after buying an additional 2,672,821 shares in the last quarter. AGF Management Ltd. raised its position in Iron Mountain by 76.3% in the 2nd 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 last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Iron Mountain by 0.3% in the 2nd 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 acquiring an additional 6,562 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $123.67 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $36.29 billion, a P/E ratio of 343.53, a P/E/G ratio of 7.44 and a beta of 0.99. Iron Mountain Incorporated has a 12 month low of $62.95 and a 12 month high of $130.24. The stock has a 50 day moving average of $120.59 and a 200-day moving average of $106.02.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IRM. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus upped their target price on 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $131.00.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s 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 in the company, 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 90 days, insiders sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by corporate insiders.

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.