Captrust Financial Advisors Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Captrust Financial Advisors boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 951,552 shares of the financial services provider’s stock after acquiring an additional 47,327 shares during the quarter. Captrust Financial Advisors owned 0.32% of Iron Mountain worth $113,073,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain during the third quarter valued at approximately $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Iron Mountain by 25.6% in the third quarter. Public Sector Pension Investment Board now owns 51,128 shares of the financial services provider’s stock valued at $6,076,000 after purchasing an additional 10,410 shares during the period. True Vision MN LLC grew its holdings in Iron Mountain by 11.9% in the third quarter. True Vision MN LLC now owns 4,546 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 485 shares during the period. Finally, CreativeOne Wealth LLC acquired a new stake in Iron Mountain in the third quarter valued at approximately $358,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,125 shares of company stock valued at $6,613,584. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $124.24 on Friday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50 day moving average price is $120.22 and its 200-day moving average price is $105.40. The firm has a market capitalization of $36.46 billion, a PE ratio of 345.12, a P/E/G ratio of 7.47 and a beta of 0.99. Iron Mountain Incorporated has a 1 year low of $62.95 and a 1 year high of $130.24.

Iron Mountain Announces Dividend

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 paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Analyst Upgrades and Downgrades

Several analysts have commented on IRM shares. Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday. The Goldman Sachs Group raised their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays dropped their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $131.00.

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.