Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by RB Capital Management LLC

RB Capital Management LLC increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,546 shares of the financial services provider’s stock after acquiring an additional 555 shares during the period. RB Capital Management LLC’s holdings in Iron Mountain were worth $2,531,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. TrinityPoint Wealth LLC grew its stake in Iron Mountain by 4.0% during the 2nd quarter. TrinityPoint Wealth LLC now owns 4,354 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 168 shares in the last quarter. Bank of New Hampshire grew its stake in Iron Mountain by 43.8% during the 2nd quarter. Bank of New Hampshire now owns 575 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 175 shares in the last quarter. Armor Investment Advisors LLC grew its stake in Iron Mountain by 1.9% during the 2nd quarter. Armor Investment Advisors LLC now owns 9,996 shares of the financial services provider’s stock valued at $568,000 after acquiring an additional 186 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Iron Mountain by 4.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 4,820 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 187 shares in the last quarter. Finally, Cresset Asset Management LLC grew its stake in Iron Mountain by 1.2% during the 1st quarter. Cresset Asset Management LLC now owns 16,001 shares of the financial services provider’s stock valued at $855,000 after acquiring an additional 195 shares in the last quarter. 76.94% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of IRM stock opened at $59.14 on Tuesday. The stock’s fifty day moving average is $60.87 and its 200-day moving average is $58.66. The company has a debt-to-equity ratio of 43.97, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $17.26 billion, a PE ratio of 46.35, a PEG ratio of 3.90 and a beta of 0.90. Iron Mountain Incorporated has a 52 week low of $48.92 and a 52 week high of $64.48.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.40%. The ex-dividend date is Thursday, December 14th. Iron Mountain’s dividend payout ratio is 200.00%.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent research reports. Barclays boosted 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. UBS Group initiated coverage on Iron Mountain in a research note on Tuesday. They issued a “sell” rating and a $44.00 price target for the company. StockNews.com assumed coverage on Iron Mountain in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada raised Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $68.00 in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $61.40.

Insider Activity at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $60.31, for a total value of $120,620.00. Following the transaction, the executive vice president now owns 54,026 shares in the company, valued at $3,258,308.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $60.31, for a total value of $120,620.00. Following the transaction, the executive vice president now owns 54,026 shares of the company’s stock, valued at $3,258,308.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 10,507 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $60.22, for a total value of $632,731.54. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $17,804,043. The disclosure for this sale can be found here. Insiders have sold a total of 77,380 shares of company stock worth $4,731,370 over the last 90 days. Insiders own 2.20% of the company’s stock.

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.