Crescent Grove Advisors LLC Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Crescent Grove Advisors LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,054 shares of the financial services provider’s stock after acquiring an additional 211 shares during the period. Crescent Grove Advisors LLC’s holdings in Iron Mountain were worth $1,381,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the period. Friedenthal Financial acquired a new stake in shares of Iron Mountain in the 3rd quarter worth $824,000. Merit Financial Group LLC boosted its holdings in shares of Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in Iron Mountain during the third quarter worth about $24,122,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM opened at $111.17 on Friday. Iron Mountain Incorporated has a one year low of $66.20 and a one year high of $130.24. The company has a market cap of $32.62 billion, a price-to-earnings ratio of 308.81, a PEG ratio of 6.05 and a beta of 1.02. The business’s fifty day moving average is $110.88 and its two-hundred day moving average is $112.37.

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 paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.57%. Iron Mountain’s payout ratio is 794.47%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of analyst reports. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. 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 research note on Wednesday, November 27th. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays decreased their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $131.00.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last three months, insiders sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is owned by corporate insiders.

Iron Mountain 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.