Retireful LLC Invests $700,000 in Iron Mountain Incorporated (NYSE:IRM)

Retireful LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, HoldingsChannel.com reports. The fund bought 5,891 shares of the financial services provider’s stock, valued at approximately $700,000.

A number of other hedge funds have also recently bought and sold shares of IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the third quarter valued at approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain during the second quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain during the second quarter worth approximately $36,000. Finally, Family Firm Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $116.50 on Wednesday. The stock has a 50-day simple moving average of $119.72 and a 200-day simple moving average of $103.81. The firm has a market cap of $34.19 billion, a P/E ratio of 323.61, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. Iron Mountain Incorporated has a 1 year low of $61.80 and a 1 year high of $130.24.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s 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 completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock worth $6,613,584 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on IRM. Stifel Nicolaus increased their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on 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 raised 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, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $129.40.

Iron Mountain Company 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.