Seed Wealth Management Inc. Buys Shares of 2,620 Iron Mountain Incorporated (NYSE:IRM)

Seed Wealth Management Inc. purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 1st quarter, Holdings Channel reports. The fund purchased 2,620 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other large investors have also modified their holdings of the company. Cohen & Steers Inc. increased its stake in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares during the period. Norges Bank acquired a new stake in Iron Mountain in the 4th quarter valued at approximately $228,391,000. Wellington Management Group LLP raised its stake in Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after acquiring an additional 2,286,711 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after purchasing an additional 1,546,592 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Iron Mountain by 214.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after buying an additional 1,178,754 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the sale, the executive vice president now directly owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Wendy J. Murdock sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now owns 24,491 shares in the company, valued at $1,845,396.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The disclosure for this sale can be found here. Insiders have sold a total of 104,511 shares of company stock worth $8,787,218 over the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 0.9 %

Iron Mountain stock traded up $0.77 during mid-day trading on Thursday, hitting $89.22. 1,265,220 shares of the company’s stock were exchanged, compared to its average volume of 1,578,986. The stock has a market cap of $26.15 billion, a P/E ratio of 135.18, a P/E/G ratio of 5.25 and a beta of 0.95. The stock has a 50 day moving average of $81.67 and a two-hundred day moving average of $75.66. Iron Mountain Incorporated has a 1-year low of $54.91 and a 1-year high of $89.91. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.91%. Iron Mountain’s payout ratio is currently 393.94%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays lifted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.33.

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.