Iron Mountain Incorporated (NYSE:IRM) is Terra Nova Asset Management LLC’s 9th Largest Position

Terra Nova Asset Management LLC lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,890 shares of the financial services provider’s stock after purchasing an additional 206 shares during the quarter. Iron Mountain accounts for approximately 2.6% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Terra Nova Asset Management LLC’s holdings in Iron Mountain were worth $3,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. lifted its position in Iron Mountain by 2.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after buying an additional 117 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Iron Mountain by 14.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,998 shares of the financial services provider’s stock worth $1,703,000 after buying an additional 2,393 shares during the last quarter. King Luther Capital Management Corp lifted its position in Iron Mountain by 3.3% in the second quarter. King Luther Capital Management Corp now owns 17,515 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 567 shares during the last quarter. AE Wealth Management LLC lifted its position in Iron Mountain by 58.0% in the second quarter. AE Wealth Management LLC now owns 18,006 shares of the financial services provider’s stock worth $1,614,000 after buying an additional 6,611 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Iron Mountain by 9.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 59,895 shares of the financial services provider’s stock worth $5,368,000 after purchasing an additional 5,056 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock worth $13,666,427 over the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus lifted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Price Performance

IRM opened at $109.19 on Monday. The business’s 50-day moving average is $111.35 and its two-hundred day moving average is $111.88. Iron Mountain Incorporated has a 1 year low of $65.01 and a 1 year high of $130.24. The firm has a market capitalization of $32.04 billion, a PE ratio of 303.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were paid a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.62%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

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.