Worldquant Millennium Advisors LLC Purchases 189,380 Shares of Iron Mountain Incorporated (NYSE:IRM)

Worldquant Millennium Advisors LLC boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4,336.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,747 shares of the financial services provider’s stock after buying an additional 189,380 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.07% of Iron Mountain worth $23,023,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its position in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after buying an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. grew its stake in shares of 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 acquiring an additional 100 shares during the period. Claro Advisors LLC grew its position in Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 103 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in Iron Mountain by 2.6% in the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after buying an additional 107 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was 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 directly owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 in the last quarter. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $120.14 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. The firm has a market capitalization of $35.26 billion, a PE ratio of 333.73, a PEG ratio of 7.12 and a beta of 0.98. The firm’s fifty day simple moving average is $120.76 and its 200 day simple moving average is $107.16. Iron Mountain Incorporated has a 1 year low of $64.66 and a 1 year high of $130.24.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IRM. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. 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. Royal Bank of Canada raised their price objective 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. Finally, Barclays lowered their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $131.00.

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.