Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 8.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,398 shares of the financial services provider’s stock after acquiring an additional 354 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Iron Mountain were worth $523,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Iron Mountain by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after buying an additional 141,675 shares in the last quarter. AGF Management Ltd. grew its position in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after buying an additional 6,562 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in shares of Iron Mountain by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after buying an additional 402,625 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In other news, 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 value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on 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 $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 company insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $119.10 on Friday. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 330.83, a price-to-earnings-growth ratio of 7.11 and a beta of 0.99. Iron Mountain Incorporated has a 52-week low of $62.58 and a 52-week high of $130.24. The stock has a 50 day moving average price of $119.86 and a 200 day moving average price of $104.48. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company 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 $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is currently 794.44%.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Barclays lowered their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $129.40.

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.