Kovitz Investment Group Partners LLC Boosts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Kovitz Investment Group Partners LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.8% in the third quarter, Holdings Channel reports. The institutional investor owned 4,162 shares of the financial services provider’s stock after acquiring an additional 773 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Iron Mountain were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Iron Mountain by 537.0% in the 3rd 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 worth $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Legal & General Group Plc increased its position in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. raised its stake in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares during the period. Mizuho Securities USA LLC lifted its position in shares of Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after buying an additional 495,898 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after acquiring an additional 445,207 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Down 0.2 %

NYSE IRM opened at $112.92 on Friday. The stock’s 50 day moving average is $120.31 and its 200 day moving average is $108.06. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $64.68 and a 12 month high of $130.24. The stock has a market cap of $33.14 billion, a PE ratio of 313.67, a P/E/G ratio of 7.20 and a beta of 0.98.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.53%. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’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 sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,997 shares of company stock valued at $8,406,961 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on IRM shares. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada raised their price objective 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. 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 report on Thursday, October 17th. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Barclays dropped their price objective 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $131.00.

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.