Goldstone Financial Group LLC Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Goldstone Financial Group LLC boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 28.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,852 shares of the financial services provider’s stock after purchasing an additional 1,304 shares during the quarter. Goldstone Financial Group LLC’s holdings in Iron Mountain were worth $615,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Legal & General Group Plc increased its stake 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 worth $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after purchasing an additional 495,898 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Iron Mountain by 12,953.4% in 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 purchasing an additional 445,207 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after buying an additional 402,625 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on IRM. Barclays cut their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company increased 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. Finally, Stifel Nicolaus boosted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Six equities research 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, Iron Mountain presently has a consensus rating of “Buy” and an average target price of $131.00.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 3.8 %

IRM stock opened at $110.17 on Friday. The stock has a market cap of $32.33 billion, a price-to-earnings ratio of 306.02, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02. The business has a fifty day moving average of $111.56 and a two-hundred day moving average of $111.46. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.60%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

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.