Assetmark Inc. Purchases 5,502 Shares of Iron Mountain Incorporated (NYSE:IRM)

Assetmark Inc. raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,535 shares of the financial services provider’s stock after buying an additional 5,502 shares during the quarter. Assetmark Inc.’s holdings in Iron Mountain were worth $5,767,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain during the 2nd quarter valued at about $32,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in Iron Mountain during the 1st quarter valued at approximately $38,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain during the second quarter valued at $45,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 1.9 %

NYSE:IRM opened at $117.44 on Tuesday. The company has a 50 day simple moving average of $119.29 and a two-hundred day simple moving average of $102.21. The company has a market cap of $34.46 billion, a PE ratio of 326.23, a price-to-earnings-growth ratio of 7.17 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $58.55 and a 12 month high of $130.24.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.47%.

Insiders Place Their Bets

In other news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,637 shares of company stock valued at $3,210,575. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRM shares. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company 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 research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Buy” and an average price target of $129.80.

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.