CreativeOne Wealth LLC Invests $358,000 in Iron Mountain Incorporated (NYSE:IRM)

CreativeOne Wealth LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,010 shares of the financial services provider’s stock, valued at approximately $358,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc grew its position in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. increased its position in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the period. Mizuho Securities USA LLC increased its position in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares during the period. International Assets Investment Management LLC raised its stake in Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after purchasing an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in Iron Mountain by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after purchasing an additional 402,625 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IRM shares. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Stifel Nicolaus increased their target price 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. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $131.00.

Iron Mountain Price Performance

IRM stock opened at $121.59 on Tuesday. 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 $64.66 and a 52-week high of $130.24. The company has a market capitalization of $35.68 billion, a P/E ratio of 337.75, a PEG ratio of 7.44 and a beta of 0.99. The company has a fifty day moving average price of $120.59 and a 200-day moving average price of $106.19.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders 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 yield of 2.35%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is presently 794.44%.

Insider Activity at Iron Mountain

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

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.