7,076 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Maltin Wealth Management Inc.

Maltin Wealth Management Inc. bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,076 shares of the financial services provider’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IRM. Simplicity Solutions LLC boosted its holdings in shares of Iron Mountain by 16.6% during the 1st quarter. Simplicity Solutions LLC now owns 22,081 shares of the financial services provider’s stock valued at $1,168,000 after acquiring an additional 3,140 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Iron Mountain by 20.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,413 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 584 shares in the last quarter. Flputnam Investment Management Co. bought a new stake in shares of Iron Mountain during the first quarter worth about $238,000. Securian Asset Management Inc. increased its stake in shares of Iron Mountain by 0.9% in the first quarter. Securian Asset Management Inc. now owns 24,331 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 221 shares during the period. Finally, Citigroup Inc. raised its holdings in Iron Mountain by 39.7% in the 1st quarter. Citigroup Inc. now owns 354,664 shares of the financial services provider’s stock valued at $18,765,000 after buying an additional 100,699 shares during the last quarter. Institutional investors own 76.94% of the company’s stock.

Iron Mountain Trading Down 0.0 %

IRM traded down $0.02 during trading on Monday, hitting $62.83. The company’s stock had a trading volume of 83,621 shares, compared to its average volume of 1,407,641. The firm has a market capitalization of $18.34 billion, a P/E ratio of 48.26, a PEG ratio of 4.24 and a beta of 0.92. Iron Mountain Incorporated has a twelve month low of $43.33 and a twelve month high of $64.37. 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 stock’s fifty day moving average price is $61.38 and its 200-day moving average price is $56.73.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.60 annualized dividend and a dividend yield of 4.14%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio is currently 200.00%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 2,381 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $59.21, for a total value of $140,979.01. Following the completion of the sale, the executive vice president now owns 62,026 shares of the company’s stock, valued at $3,672,559.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,381 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $59.21, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 10,507 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $59.45, for a total transaction of $624,641.15. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $17,576,392.50. The disclosure for this sale can be found here. Insiders have sold 37,395 shares of company stock valued at $2,256,112 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IRM shares. Barclays boosted their target price on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Royal Bank of Canada raised Iron Mountain from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $58.00 to $68.00 in a research report on Monday, August 21st. Finally, StockNews.com initiated coverage on 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.75.

About Iron Mountain

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.