Iron Mountain Incorporated (NYSE:IRM) Stake Raised by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 42.9% in the third quarter, Holdings Channel.com reports. The fund owned 34,450 shares of the financial services provider’s stock after buying an additional 10,350 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Iron Mountain were worth $4,094,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IRM. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter worth $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain during the second quarter worth $32,000. West Branch Capital LLC acquired a new position in Iron Mountain in the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the 2nd quarter worth $36,000. Finally, Family Firm Inc. bought a new position in shares of Iron Mountain during the 2nd quarter valued at $45,000. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on IRM shares. Barclays cut their price objective 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. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $129.40.

Iron Mountain Stock Performance

NYSE IRM opened at $120.50 on Monday. Iron Mountain Incorporated has a 1 year low of $62.58 and a 1 year high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 330.84, a P/E/G ratio of 7.16 and a beta of 0.99. The firm’s 50 day simple moving average is $119.86 and its 200 day simple moving average is $104.67.

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 given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insider Activity

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction 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 in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 in the last three months. Company insiders own 2.10% of the company’s stock.

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.