Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,386,315 shares of the financial services provider’s stock after acquiring an additional 141,675 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Iron Mountain were worth $402,396,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the third quarter worth about $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the 2nd quarter valued at approximately $36,000. Finally, Family Firm Inc. acquired a new position in Iron Mountain during the second quarter worth $45,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IRM. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus price target of $129.40.

Iron Mountain Stock Performance

NYSE:IRM opened at $119.10 on Friday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $34.95 billion, a PE ratio of 330.84, a P/E/G ratio of 6.98 and a beta of 0.99. The firm has a 50 day simple moving average of $119.86 and a 200-day simple moving average of $104.29. Iron Mountain Incorporated has a 1-year low of $62.58 and a 1-year high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Transactions at Iron Mountain

In other news, 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 transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. 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 the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock worth $6,613,584 over the last quarter. 2.10% of the stock is currently owned by insiders.

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.