Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,436 shares of the financial services provider’s stock after purchasing an additional 1,929 shares during the period. HighTower Advisors LLC’s holdings in Iron Mountain were worth $3,513,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Compass Wealth Management LLC acquired a new stake in Iron Mountain in the 4th quarter valued at about $26,000. BOKF NA purchased a new position in shares of Iron Mountain during the 1st quarter worth approximately $31,000. True Wealth Design LLC purchased a new position in Iron Mountain in the 4th quarter valued at approximately $33,000. Kalos Management Inc. purchased a new position in Iron Mountain in the 1st quarter valued at approximately $36,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Iron Mountain in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 76.94% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $63.65 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 26.77. The company has a market cap of $18.58 billion, a P/E ratio of 48.96, a P/E/G ratio of 4.21 and a beta of 0.92. Iron Mountain Incorporated has a fifty-two week low of $43.33 and a fifty-two week high of $64.37. The firm’s 50 day moving average is $60.72 and its two-hundred day moving average is $56.21.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.60 annualized dividend and a dividend yield of 4.08%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio is presently 190.00%.

Insider Transactions at Iron Mountain

In related news, CFO Barry Hytinen sold 18,500 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $56.23, for a total transaction of $1,040,255.00. Following the completion of the sale, the chief financial officer now directly owns 80,197 shares of the company’s stock, valued at approximately $4,509,477.31. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Barry Hytinen sold 18,500 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $56.23, for a total transaction of $1,040,255.00. Following the completion of the sale, the chief financial officer now directly owns 80,197 shares of the company’s stock, valued at approximately $4,509,477.31. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Deborah Marson sold 2,381 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $59.21, for a total transaction of $140,979.01. Following the transaction, the executive vice president now directly owns 62,026 shares of the company’s stock, valued at $3,672,559.46. The disclosure for this sale can be found here. Insiders sold 57,895 shares of company stock valued at $3,408,827 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research analyst reports. Barclays lifted their price target on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $58.00 to $68.00 in a research report on Monday, August 21st. Finally, StockNews.com began coverage on shares of Iron Mountain in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.75.

Iron Mountain Profile

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.