Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,054 shares of the financial services provider’s stock after buying an additional 211 shares during the period. Crescent Grove Advisors LLC’s holdings in Iron Mountain were worth $1,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC increased its position in shares of Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 89 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Iron Mountain by 0.8% in the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 92 shares during the last quarter. Geller Advisors LLC grew its stake in Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. increased its holdings in Iron Mountain by 3.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 100 shares during the last quarter. Finally, Claro Advisors LLC raised its position in shares of Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $111.17 on Friday. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24. The firm’s 50-day moving average is $110.88 and its 200-day moving average is $112.37. The company has a market cap of $32.62 billion, a P/E ratio of 308.81, a PEG ratio of 6.05 and a beta of 1.02.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were paid a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.57%. Iron Mountain’s payout ratio is currently 794.47%.

Wall Street Analysts Forecast Growth

A number of research firms 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 report on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays reduced their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Finally, Wells Fargo & Company boosted 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $131.00.

Insider Activity

In related news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is currently owned by 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.