Highland Capital Management LLC Takes $1.04 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Highland Capital Management LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, HoldingsChannel reports. The firm acquired 9,852 shares of the financial services provider’s stock, valued at approximately $1,036,000.

A number of other institutional investors also recently bought and sold shares of IRM. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $31,000. West Branch Capital LLC acquired a new stake in Iron Mountain during the third quarter worth $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the third quarter valued at $36,000. Dunhill Financial LLC lifted its stake in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Iron Mountain Stock Up 1.7 %

NYSE:IRM opened at $102.33 on Friday. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24. The company has a fifty day simple moving average of $109.64 and a two-hundred day simple moving average of $112.42. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 284.26, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.79%. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

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.