Bamco Inc. NY Buys New Shares in Iron Mountain Incorporated (NYSE:IRM)

Bamco Inc. NY purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 159,114 shares of the financial services provider’s stock, valued at approximately $18,908,000. Bamco Inc. NY owned 0.05% of Iron Mountain as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain in the 2nd quarter valued at $32,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $36,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of several recent research reports. Barclays dropped their price target 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. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $121.59 on Tuesday. The business has a fifty day moving average of $120.59 and a 200-day moving average of $106.19. The firm has a market cap of $35.68 billion, a PE ratio of 337.75, a price-to-earnings-growth ratio of 7.44 and a beta of 0.99. 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 twelve month low of $64.66 and a twelve month high of $130.24.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders 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 2.35%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, 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. Over the last three months, insiders have sold 56,125 shares of company stock worth $6,613,584. Corporate insiders own 2.10% of the company’s stock.

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.