Toroso Investments LLC Increases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Toroso Investments LLC raised its position in Iron Mountain Incorporated (NYSE:IRM) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,733 shares of the financial services provider’s stock after acquiring an additional 1,098 shares during the quarter. Toroso Investments LLC’s holdings in Iron Mountain were worth $991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Compass Wealth Management LLC purchased a new stake in shares of Iron Mountain during the fourth quarter worth about $26,000. Prostatis Group LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth approximately $28,000. BOKF NA bought a new stake in shares of Iron Mountain in the first quarter worth $31,000. True Wealth Design LLC acquired a new stake in Iron Mountain in the fourth quarter valued at $33,000. Finally, Kalos Management Inc. acquired a new position in Iron Mountain during the 1st quarter worth $36,000. 76.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 10,507 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $59.45, for a total transaction of $624,641.15. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $17,576,392.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Deborah Marson sold 2,381 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $59.21, for a total transaction of $140,979.01. Following the completion of the transaction, the executive vice president now directly owns 62,026 shares in the company, valued at approximately $3,672,559.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 10,507 shares of the stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $59.45, for a total transaction of $624,641.15. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $17,576,392.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,395 shares of company stock worth $2,256,112. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IRM. Royal Bank of Canada upgraded shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $58.00 to $68.00 in a research note on Monday, August 21st. StockNews.com assumed coverage on Iron Mountain in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Barclays raised their price target on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus target price of $65.75.

Iron Mountain Trading Up 0.4 %

Shares of Iron Mountain stock opened at $63.10 on Tuesday. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $64.37. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 26.77. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 4.24 and a beta of 0.92. The company’s fifty day simple moving average is $61.47 and its 200-day simple moving average is $56.81.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.12%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s dividend payout ratio is currently 200.00%.

Iron Mountain Company 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.