Captrust Financial Advisors Boosts Stake in Iron Mountain Incorporated (NYSE:IRM)

Captrust Financial Advisors raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 5.2% during the third quarter, Holdings Channel.com reports. The firm owned 951,552 shares of the financial services provider’s stock after purchasing an additional 47,327 shares during the period. Captrust Financial Advisors’ holdings in Iron Mountain were worth $113,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares during the period. Friedenthal Financial purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $824,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after buying an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings 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 valued at $6,794,000 after buying an additional 12,540 shares during the period. Finally, Brookstone Capital Management raised its holdings in shares of 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 buying an additional 11,454 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays cut their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Trading Up 0.5 %

NYSE:IRM opened at $124.24 on Friday. The stock has a 50-day simple moving average of $120.22 and a 200-day simple moving average of $105.40. The stock has a market cap of $36.46 billion, a P/E ratio of 345.12, a P/E/G ratio of 7.47 and a beta of 0.99. Iron Mountain Incorporated has a 1 year low of $62.95 and a 1 year high of $130.24. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.30%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company’s 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 sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the company’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 sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Company 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.