Oppenheimer & Co. Inc. Increases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Oppenheimer & Co. Inc. increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 36.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,192 shares of the financial services provider’s stock after buying an additional 5,086 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Iron Mountain were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain during the 3rd quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain in the 2nd quarter worth about $32,000. West Branch Capital LLC purchased a new position in shares of Iron Mountain in the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the second quarter valued at approximately $36,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Iron Mountain in the first quarter worth $38,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Iron Mountain stock opened at $114.88 on Friday. 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 stock has a 50 day moving average of $119.57 and a 200-day moving average of $103.07. The stock has a market cap of $33.71 billion, a P/E ratio of 319.12, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99. Iron Mountain Incorporated has a 52 week low of $61.59 and a 52 week high of $130.24.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,387 shares of company stock valued at $6,971,838. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of research reports. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped 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. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays upped their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average price target of $129.80.

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.