MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes Position in Iron Mountain Incorporated (NYSE:IRM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,857 shares of the financial services provider’s stock, valued at approximately $149,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Iron Mountain by 21.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 129,953 shares of the financial services provider’s stock worth $10,424,000 after purchasing an additional 22,715 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $244,000. Claro Advisors LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at about $1,445,000. Cornerstone Wealth Group LLC acquired a new position in shares of Iron Mountain in the first quarter worth approximately $306,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Iron Mountain by 13.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 63,269 shares of the financial services provider’s stock worth $5,075,000 after purchasing an additional 7,282 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $90.87 on Wednesday. The business has a 50-day simple moving average of $82.81 and a 200 day simple moving average of $76.36. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 137.68, a PEG ratio of 5.31 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. Iron Mountain Incorporated has a one year low of $56.28 and a one year high of $91.06.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio is currently 393.95%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company raised their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays boosted their price target on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $78.33.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total transaction of $77,588.82. Following the transaction, the director now directly owns 35,166 shares in the company, valued at approximately $2,860,050.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Iron Mountain news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the transaction, the director now owns 35,166 shares in the company, valued at $2,860,050.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the sale, the executive vice president now owns 65,286 shares in the company, valued at $5,123,645.28. The disclosure for this sale can be found here. Insiders sold a total of 100,053 shares of company stock valued at $8,429,641 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Iron Mountain 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.