Horizon Kinetics Asset Management LLC Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Horizon Kinetics Asset Management LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 42.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,450 shares of the financial services provider’s stock after purchasing an additional 10,350 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Iron Mountain were worth $4,094,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IRM. PNC Financial Services Group Inc. lifted its position in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Friedenthal Financial acquired a new stake in Iron Mountain during the 3rd quarter worth $824,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after buying an additional 110,551 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after buying an additional 12,540 shares during the last quarter. Finally, Brookstone Capital Management lifted its stake in shares of Iron Mountain by 13.2% in the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock worth $9,766,000 after buying an additional 11,454 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IRM shares. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $129.40.

Iron Mountain Stock Performance

NYSE IRM opened at $120.50 on Monday. The company has a market capitalization of $35.36 billion, a PE ratio of 330.84, a price-to-earnings-growth ratio of 7.16 and a beta of 0.99. Iron Mountain Incorporated has a twelve month low of $62.58 and a twelve month high of $130.24. 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 business’s 50-day moving average price is $119.86 and its 200 day moving average price is $104.67.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.37%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their position. The sale 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 firm’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 owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,125 shares of company stock valued at $6,613,584. Corporate insiders own 2.10% of the company’s stock.

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.