Aviva PLC Has $21.99 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Aviva PLC boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 89.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,633 shares of the financial services provider’s stock after purchasing an additional 196,371 shares during the quarter. Aviva PLC owned about 0.14% of Iron Mountain worth $21,991,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Compass Wealth Management LLC bought a new stake in Iron Mountain in the 4th quarter valued at about $26,000. Prostatis Group LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at $28,000. BOKF NA bought a new position in Iron Mountain in the first quarter valued at about $31,000. True Wealth Design LLC acquired a new position in Iron Mountain during the 4th quarter worth approximately $33,000. Finally, Kalos Management Inc. acquired a new position in shares of Iron Mountain during the first quarter worth $36,000. Institutional investors own 76.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IRM. Barclays lifted their price target on Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. StockNews.com began coverage on shares of Iron Mountain in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $58.00 to $68.00 in a research note on Monday, August 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $65.75.

Iron Mountain Stock Up 0.1 %

Shares of NYSE:IRM opened at $63.61 on Friday. The firm has a market cap of $18.56 billion, a P/E ratio of 48.93, a PEG ratio of 4.12 and a beta of 0.93. The business’s 50 day simple moving average is $60.07 and its two-hundred day simple moving average is $55.92. The company has a debt-to-equity ratio of 26.77, a quick ratio of 0.78 and a current ratio of 0.78. Iron Mountain Incorporated has a 52-week low of $43.33 and a 52-week high of $64.20.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, September 14th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio is currently 190.00%.

Insider Activity

In other news, Director Wendy J. Murdock sold 12,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $61.53, for a total transaction of $738,360.00. Following the completion of the transaction, the director now owns 25,991 shares in the company, valued at approximately $1,599,226.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Iron Mountain news, Director Wendy J. Murdock sold 12,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $61.53, for a total transaction of $738,360.00. Following the sale, the director now owns 25,991 shares in the company, valued at $1,599,226.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Tomovcsik sold 57,872 shares of Iron Mountain stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $55.96, for a total value of $3,238,517.12. Following the completion of the transaction, the chief operating officer now owns 50,455 shares of the company’s stock, valued at $2,823,461.80. The disclosure for this sale can be found here. Insiders have sold 134,208 shares of company stock worth $7,670,320 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.