HighPoint Advisor Group LLC Takes Position in Iron Mountain Incorporated (NYSE:IRM)

HighPoint Advisor Group LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRMFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,294 shares of the financial services provider’s stock, valued at approximately $1,280,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cohen & Steers Inc. grew its position in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares during the period. Deutsche Bank AG grew its position in Iron Mountain by 0.7% during the third quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after acquiring an additional 29,683 shares during the period. Daiwa Securities Group Inc. grew its position in Iron Mountain by 60.9% during 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 acquiring an additional 1,546,592 shares during the period. Northern Trust Corp grew its position in Iron Mountain by 1.2% during the third quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock valued at $232,677,000 after acquiring an additional 47,902 shares during the period. Finally, Norges Bank purchased a new stake in Iron Mountain during the fourth quarter valued at about $228,391,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on IRM. Wells Fargo & Company boosted their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Barclays boosted their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Get Our Latest Stock Report on IRM

Insider Buying and Selling

In related news, EVP Greg W. Mcintosh sold 13,923 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $87.41, for a total value of $1,217,009.43. Following the transaction, the executive vice president now owns 18,107 shares in the company, valued at $1,582,732.87. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg W. Mcintosh sold 13,923 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $87.41, for a total value of $1,217,009.43. Following the sale, the executive vice president now owns 18,107 shares in the company, valued at approximately $1,582,732.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,132 shares of company stock worth $4,856,653. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 0.6 %

Shares of NYSE:IRM traded up $0.51 during trading on Tuesday, hitting $88.78. The company’s stock had a trading volume of 79,998 shares, compared to its average volume of 1,407,380. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain Incorporated has a fifty-two week low of $53.74 and a fifty-two week high of $89.91. The stock’s 50-day moving average price is $79.88 and its two-hundred day moving average price is $74.60. The company has a market capitalization of $26.02 billion, a PE ratio of 133.74, a PEG ratio of 5.27 and a beta of 0.95.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

Iron Mountain Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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