Tectonic Advisors LLC Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Tectonic Advisors LLC boosted its holdings in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 25.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,623 shares of the financial services provider’s stock after acquiring an additional 9,263 shares during the quarter. Tectonic Advisors LLC’s holdings in Iron Mountain were worth $2,006,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IRM. Trust Co. of Vermont purchased a new position in shares of Iron Mountain in the second quarter valued at $25,000. Lindbrook Capital LLC increased its position in shares of Iron Mountain by 63.1% in the second quarter. Lindbrook Capital LLC now owns 597 shares of the financial services provider’s stock valued at $29,000 after buying an additional 231 shares in the last quarter. CX Institutional purchased a new position in shares of Iron Mountain in the second quarter valued at $33,000. Allworth Financial LP increased its position in shares of Iron Mountain by 132.0% in the third quarter. Allworth Financial LP now owns 775 shares of the financial services provider’s stock valued at $34,000 after buying an additional 441 shares in the last quarter. Finally, First Personal Financial Services purchased a new position in shares of Iron Mountain in the third quarter valued at $35,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Exane BNP Paribas assumed coverage on Iron Mountain in a research report on Wednesday, December 14th. They issued an “outperform” rating for the company. BNP Paribas assumed coverage on Iron Mountain in a research note on Wednesday, December 14th. They set an “outperform” rating and a $66.00 price objective on the stock. StockNews.com assumed coverage on Iron Mountain in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada assumed coverage on Iron Mountain in a research note on Friday, December 16th. They set a “sector perform” rating and a $58.00 price objective on the stock. Finally, Evercore ISI decreased their price objective on Iron Mountain to $60.00 in a research note on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.00.

Iron Mountain Trading Down 0.5 %

NYSE:IRM traded down $0.27 during mid-day trading on Wednesday, reaching $54.31. The company’s stock had a trading volume of 555,726 shares, compared to its average volume of 1,606,677. The company’s fifty day simple moving average is $52.41 and its two-hundred day simple moving average is $50.94. The company has a debt-to-equity ratio of 19.16, a current ratio of 0.90 and a quick ratio of 0.90. Iron Mountain Incorporated has a twelve month low of $41.67 and a twelve month high of $58.61. The stock has a market cap of $15.79 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.59 and a beta of 0.86.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were paid a $0.618 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Wednesday, December 14th. Iron Mountain’s payout ratio is 146.15%.

Insiders Place Their Bets

In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $50.18, for a total value of $56,452.50. Following the transaction, the executive vice president now directly owns 48,032 shares of the company’s stock, valued at approximately $2,410,245.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $50.18, for a total value of $56,452.50. Following the transaction, the executive vice president now directly owns 48,032 shares of the company’s stock, valued at approximately $2,410,245.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $51.76, for a total value of $543,842.32. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $15,302,844. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,896 shares of company stock valued at $1,798,205. Insiders own 2.10% of the company’s stock.

Iron Mountain Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.