Centiva Capital LP Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Centiva Capital LP purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 28,126 shares of the financial services provider’s stock, valued at approximately $3,342,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its holdings in Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after buying an additional 89 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. boosted its holdings in Iron Mountain by 3.6% in the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 100 shares during the period. Claro Advisors LLC increased its stake in Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after purchasing an additional 103 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Iron Mountain by 2.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 107 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $123.67 on Monday. Iron Mountain Incorporated has a 12-month low of $62.95 and a 12-month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market cap of $36.29 billion, a PE ratio of 343.53, a P/E/G ratio of 7.44 and a beta of 0.99. The stock has a 50 day simple moving average of $120.59 and a 200-day simple moving average of $106.02.

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 paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.31%. Iron Mountain’s payout ratio is 794.44%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IRM. 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. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. 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 research report on Wednesday, November 27th. Finally, Wells Fargo & Company increased their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $131.00.

Insider Activity

In related 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 value of $989,230.00. Following the completion of the transaction, the director now 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 filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,125 shares of company stock valued at $6,613,584. Company 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.