Cerity Partners LLC Buys 9,442 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cerity Partners LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 47.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,362 shares of the financial services provider’s stock after purchasing an additional 9,442 shares during the period. Cerity Partners LLC’s holdings in Iron Mountain were worth $3,489,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc raised its position in Iron Mountain by 49.2% during 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 acquiring an additional 1,286,694 shares in the last quarter. AGF Management Ltd. raised its holdings in shares of Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the period. Mizuho Securities USA LLC lifted its stake in Iron Mountain by 2,193.9% in 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 purchasing an additional 495,898 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Iron Mountain by 12,953.4% during the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its position in Iron Mountain by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after buying an additional 402,625 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRM. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Iron Mountain has an average rating of “Buy” and a consensus price target of $131.00.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Down 0.4 %

Shares of IRM opened at $123.75 on Friday. 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 $62.95 and a 12 month high of $130.24. The firm’s 50 day moving average is $120.42 and its 200-day moving average is $105.53. The stock has a market capitalization of $36.32 billion, a PE ratio of 346.43, a P/E/G ratio of 7.47 and a beta of 0.99.

Iron Mountain Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. Iron Mountain’s payout ratio is 794.47%.

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.