Tidal Investments LLC Buys 14,737 Shares of Iron Mountain Incorporated (NYSE:IRM)

Tidal Investments LLC grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 254.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,536 shares of the financial services provider’s stock after acquiring an additional 14,737 shares during the period. Tidal Investments LLC’s holdings in Iron Mountain were worth $2,440,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Iron Mountain during the 3rd quarter valued at $837,000. World Investment Advisors LLC bought a new stake in shares of Iron Mountain in the third quarter valued at about $554,000. Sanctuary Advisors LLC lifted its stake in Iron Mountain by 284.8% in the third quarter. Sanctuary Advisors LLC now owns 129,034 shares of the financial services provider’s stock worth $15,368,000 after acquiring an additional 95,499 shares during the period. M&T Bank Corp grew its holdings in Iron Mountain by 0.4% during the 3rd quarter. M&T Bank Corp now owns 88,215 shares of the financial services provider’s stock worth $10,482,000 after acquiring an additional 334 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in Iron Mountain by 65.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 864 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 343 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays decreased their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus target price of $131.00.

Insider Activity 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 stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,997 shares of company stock valued at $8,406,961 in the last three months. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Down 0.9 %

Shares of IRM stock opened at $111.90 on Monday. The stock’s fifty day moving average price is $120.18 and its 200 day moving average price is $108.69. Iron Mountain Incorporated has a 1-year low of $64.68 and a 1-year high of $130.24. The company has a market cap of $32.84 billion, a price-to-earnings ratio of 310.83, a price-to-earnings-growth ratio of 6.77 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued 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 2.56%. Iron Mountain’s dividend payout ratio (DPR) is currently 794.44%.

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.