203,000 Shares in Iron Mountain Incorporated (NYSE:IRM) Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 203,000 shares of the financial services provider’s stock, valued at approximately $24,122,000. Lord Abbett & CO. LLC owned approximately 0.07% of Iron Mountain as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the 3rd quarter worth approximately $31,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the 3rd quarter valued at $36,000. Dunhill Financial LLC increased its holdings in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other news, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,997 shares of company stock worth $8,406,961. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on IRM shares. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays decreased their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, Wells Fargo & Company upped their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Down 0.9 %

NYSE:IRM opened at $111.90 on Monday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 1-year low of $64.68 and a 1-year high of $130.24. The company has a 50-day moving average of $120.18 and a 200 day moving average of $108.69. The firm has a market cap of $32.84 billion, a PE ratio of 310.83, a price-to-earnings-growth ratio of 6.77 and a beta of 0.98.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.56%. Iron Mountain’s payout ratio is presently 794.44%.

Iron Mountain Company 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.