MQS Management LLC Buys New Stake in Iron Mountain Incorporated (NYSE:IRM)

MQS Management LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,725 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased 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 during the period. AGF Management Ltd. increased 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 acquiring an additional 972,101 shares during the period. Bank of New York Mellon Corp increased its position 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 during the period. Duff & Phelps Investment Management Co. increased its position in Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after acquiring an additional 402,625 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Iron Mountain by 5.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider’s stock valued at $105,348,000 after acquiring an additional 56,503 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM opened at $114.87 on Friday. The firm has a market cap of $33.71 billion, a PE ratio of 319.09, a P/E/G ratio of 6.95 and a beta of 0.99. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The business has a fifty day simple moving average of $119.57 and a 200-day simple moving average of $102.89. Iron Mountain Incorporated has a fifty-two week low of $61.59 and a fifty-two week high of $130.24.

Iron Mountain Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,387 shares of company stock valued at $6,971,838 over the last quarter. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays lifted their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Five investment 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.com, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $129.80.

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.