Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,076 shares of the financial services provider’s stock after acquiring an additional 2,010 shares during the period. Toronto Dominion Bank’s holdings in Iron Mountain were worth $17,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IRM. PNC Financial Services Group Inc. increased its stake in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after buying an additional 1,446 shares during the period. Friedenthal Financial purchased a new stake in shares of Iron Mountain in the 3rd quarter worth about $824,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after buying an additional 12,540 shares in the last quarter. Brookstone Capital Management lifted its holdings in Iron Mountain by 13.2% in the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after purchasing an additional 11,454 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IRM has been the topic of several recent analyst reports. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays lowered their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Stifel Nicolaus raised their price target 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. Finally, Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $131.00.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,997 shares of company stock valued at $8,406,961 over the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $112.92 on Friday. The firm has a market capitalization of $33.14 billion, a price-to-earnings ratio of 313.67, a price-to-earnings-growth ratio of 7.20 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. Iron Mountain Incorporated has a one year low of $64.68 and a one year high of $130.24. The stock’s fifty day moving average is $120.31 and its 200-day moving average is $108.06.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

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.