Oppenheimer Asset Management Inc. Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 19.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,725 shares of the financial services provider’s stock after selling 4,521 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Iron Mountain were worth $2,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in IRM. Legal & General Group Plc increased its holdings 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 valued at $349,453,000 after buying an additional 1,286,694 shares during the period. AGF Management Ltd. boosted its position in Iron Mountain by 76.3% during 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 in the last quarter. International Assets Investment Management LLC boosted its position in Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after acquiring an additional 445,207 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of 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, Wulff Hansen & CO. raised its position in shares of Iron Mountain by 8,862.0% in the 2nd quarter. Wulff Hansen & CO. now owns 405,082 shares of the financial services provider’s stock worth $36,303,000 after acquiring an additional 400,562 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,387 shares of company stock worth $6,971,838 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.6 %

NYSE:IRM opened at $114.88 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $61.59 and a twelve month high of $130.24. The company has a market cap of $33.71 billion, a PE ratio of 319.12, a P/E/G ratio of 6.95 and a beta of 0.99. The company’s 50 day moving average is $119.57 and its two-hundred day moving average is $103.07.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. 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 payout ratio is 794.47%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRM. Barclays raised their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $129.80.

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.