Healthcare of Ontario Pension Plan Trust Fund Acquires New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 1st quarter, Holdings Channel.com reports. The fund bought 64,000 shares of the financial services provider’s stock, valued at approximately $5,133,000.

Other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. lifted its holdings in shares of Iron Mountain by 202.1% during the 4th 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 in the last quarter. Norges Bank acquired a new stake in Iron Mountain during the 4th quarter worth approximately $228,391,000. Daiwa Securities Group Inc. lifted its stake in 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 valued at $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Iron Mountain by 59.1% during the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock worth $145,879,000 after acquiring an additional 772,988 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their price target on Iron Mountain from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their price objective on Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $86.17.

Insider Activity at Iron Mountain

In related news, COO John Tomovcsik sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,866 shares of the company’s stock, valued at $1,786,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $23,956,519.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the chief operating officer now directly owns 17,866 shares in the company, valued at $1,786,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,553 shares of company stock valued at $8,759,378. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Down 0.0 %

Iron Mountain stock opened at $96.88 on Friday. 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 Incorporated has a 1-year low of $56.51 and a 1-year high of $101.38. The company has a fifty day simple moving average of $88.83 and a 200 day simple moving average of $79.48. The company has a market cap of $28.40 billion, a P/E ratio of 146.79, a price-to-earnings-growth ratio of 5.74 and a beta of 0.98.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, June 17th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

About Iron Mountain

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.