Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 1.5% in the 4th quarter, Holdings Channel reports. The fund owned 10,803 shares of the financial services provider’s stock after purchasing an additional 158 shares during the period. Contravisory Investment Management Inc.’s holdings in Iron Mountain were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the 3rd quarter worth $31,000. West Branch Capital LLC bought a new position in shares of Iron Mountain during the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the 3rd quarter worth approximately $36,000. Dunhill Financial LLC increased its stake in Iron Mountain by 50.5% during the third 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 lifted its position in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on IRM. Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays cut their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Up 1.8 %

Shares of NYSE:IRM opened at $105.95 on Thursday. The company has a market cap of $31.09 billion, a P/E ratio of 294.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02. The company’s fifty day moving average is $111.70 and its two-hundred day moving average is $111.46. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated 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 owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. 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 90 days. 2.10% of the stock is currently owned by insiders.

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.