ClearAlpha Technologies LP Invests $609,000 in Iron Mountain Incorporated (NYSE:IRM)

ClearAlpha Technologies LP purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,128 shares of the financial services provider’s stock, valued at approximately $609,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC grew its holdings in shares of Iron Mountain by 284.1% during the first quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider’s stock valued at $1,477,000 after buying an additional 13,621 shares during the last quarter. Atria Investments Inc acquired a new position in Iron Mountain during the 1st quarter valued at about $1,873,000. EverSource Wealth Advisors LLC increased its holdings in Iron Mountain by 169.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Iron Mountain by 65.0% in the second quarter. GAMMA Investing LLC now owns 2,979 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 1,173 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Iron Mountain by 9.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IRM shares. Barclays decreased 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. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price target 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. 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 research report on Monday, September 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Price Performance

Iron Mountain stock opened at $123.67 on Monday. The business’s 50 day simple moving average is $120.59 and its 200 day simple moving average is $106.02. Iron Mountain Incorporated has a 12 month low of $62.95 and a 12 month high of $130.24. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 343.53, a PEG ratio of 7.44 and a beta of 0.99. 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 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. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.31%. Iron Mountain’s payout ratio is 794.44%.

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.