11,545 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Savoie Capital LLC

Savoie Capital LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,545 shares of the financial services provider’s stock, valued at approximately $1,372,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the 3rd quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Iron Mountain in the second quarter worth $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the third quarter worth $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the third quarter valued at $36,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain in the second quarter valued at about $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IRM. Barclays cut their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Stifel Nicolaus boosted their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company increased 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 equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Trading Down 4.8 %

Shares of NYSE:IRM opened at $114.35 on Tuesday. The stock’s 50-day moving average is $120.67 and its 200-day moving average is $107.77. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24. The company has a market cap of $33.56 billion, a P/E ratio of 317.64, a P/E/G ratio of 7.20 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.50%. Iron Mountain’s payout ratio 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.