Perpetual Ltd Buys 4,280 Shares of Iron Mountain Incorporated (NYSE:IRM)

Perpetual Ltd raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 68.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,570 shares of the financial services provider’s stock after acquiring an additional 4,280 shares during the period. Perpetual Ltd’s holdings in Iron Mountain were worth $1,111,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IRM. OneDigital Investment Advisors LLC increased its position in shares of 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 purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of 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 buying an additional 92 shares in the last quarter. Geller Advisors LLC raised its stake in shares of Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 96 shares during the last quarter. Schmidt P J Investment Management Inc. boosted its holdings in shares of Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 100 shares in the last quarter. Finally, Claro Advisors LLC grew its position in Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after acquiring an additional 103 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a document filed 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 value of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,874,874. 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 a total of 125,016 shares of company stock valued at $13,666,427 in the last 90 days. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays reduced their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. 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. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $110.05 on Thursday. The company has a 50 day moving average of $111.00 and a 200-day moving average of $112.12. Iron Mountain Incorporated has a one year low of $66.20 and a one year high of $130.24. The stock has a market cap of $32.30 billion, a price-to-earnings ratio of 305.71, a P/E/G ratio of 6.01 and a beta of 1.02.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

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.