Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 106.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,275 shares of the financial services provider’s stock after purchasing an additional 8,408 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Iron Mountain were worth $991,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Cetera Investment Advisers increased its position in shares of Iron Mountain by 9.6% in the second quarter. Cetera Investment Advisers now owns 67,730 shares of the financial services provider’s stock worth $3,848,000 after acquiring an additional 5,960 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Iron Mountain by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,271,464 shares of the financial services provider’s stock valued at $242,702,000 after purchasing an additional 52,274 shares in the last quarter. Veritable L.P. raised its position in Iron Mountain by 14.8% in the second quarter. Veritable L.P. now owns 9,644 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 1,243 shares during the period. BNP Paribas Arbitrage SNC lifted its stake in shares of Iron Mountain by 10.5% during the second quarter. BNP Paribas Arbitrage SNC now owns 281,783 shares of the financial services provider’s stock worth $16,011,000 after purchasing an additional 26,747 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Iron Mountain by 3.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,860 shares of the financial services provider’s stock worth $2,890,000 after buying an additional 1,577 shares during the period. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the topic of several recent research reports. Barclays boosted their price target on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. StockNews.com began coverage on shares of Iron Mountain in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. Finally, UBS Group initiated coverage on shares of Iron Mountain in a research report on Tuesday, November 7th. They issued a “sell” rating and a $44.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.40.

Iron Mountain Stock Up 4.7 %

IRM stock opened at $61.88 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 43.97. The firm has a 50 day simple moving average of $60.43 and a 200-day simple moving average of $58.89. The company has a market capitalization of $18.07 billion, a P/E ratio of 65.14, a PEG ratio of 3.74 and a beta of 0.90. Iron Mountain Incorporated has a twelve month low of $48.92 and a twelve month high of $64.48.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.20%. Iron Mountain’s dividend payout ratio (DPR) is 273.69%.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $60.31, for a total value of $120,620.00. Following the sale, the executive vice president now owns 54,026 shares of the company’s stock, valued at approximately $3,258,308.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $60.31, for a total transaction of $120,620.00. Following the sale, 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 filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $59.08, for a total value of $620,753.56. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $17,467,002. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,873 shares of company stock worth $4,098,639. 2.20% of the stock is currently owned by insiders.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.