Townsquare Capital LLC Increases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Townsquare Capital LLC boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 72.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,129 shares of the financial services provider’s stock after buying an additional 4,271 shares during the period. Townsquare Capital LLC’s holdings in Iron Mountain were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Iron Mountain during the 3rd quarter valued at about $824,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after buying an additional 12,540 shares during the period. Brookstone Capital Management boosted its stake in shares of Iron Mountain by 13.2% in the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock worth $9,766,000 after buying an additional 11,454 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock worth $2,281,000 after purchasing an additional 5,086 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,125 shares of company stock worth $6,613,584. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $121.59 on Tuesday. The firm has a market cap of $35.68 billion, a P/E ratio of 337.75, a price-to-earnings-growth ratio of 7.44 and a beta of 0.99. The stock has a 50 day moving average of $120.59 and a two-hundred day moving average of $106.19. Iron Mountain Incorporated has a 12 month low of $64.66 and a 12 month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.44%.

Wall Street Analyst Weigh In

IRM has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays decreased their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada raised 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. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $131.00.

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.