Beverly Hills Private Wealth LLC Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Beverly Hills Private Wealth LLC grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 106.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,275 shares of the financial services provider’s stock after purchasing an additional 8,408 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Iron Mountain were worth $991,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Barrett & Company Inc. bought a new position in Iron Mountain during the 2nd quarter valued at approximately $28,000. Compass Wealth Management LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at approximately $26,000. Bank of New Hampshire boosted its holdings in Iron Mountain by 43.8% in the second quarter. Bank of New Hampshire now owns 575 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 175 shares in the last quarter. BOKF NA bought a new stake in Iron Mountain in the first quarter valued at $31,000. Finally, True Wealth Design LLC bought a new position in Iron Mountain in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $61.88 on Wednesday. The business’s 50 day moving average price is $60.43 and its 200-day moving average price is $58.89. The stock has a market cap of $18.07 billion, a P/E ratio of 65.14, a P/E/G ratio of 3.74 and a beta of 0.90. Iron Mountain Incorporated has a 52 week low of $48.92 and a 52 week high of $64.48. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 43.97.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.60 annualized dividend and a dividend yield of 4.20%. Iron Mountain’s payout ratio is presently 273.69%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IRM. StockNews.com assumed coverage on shares of Iron Mountain in a research report on Thursday, October 5th. They set a “hold” rating on the stock. UBS Group started coverage on Iron Mountain in a report on Tuesday, November 7th. They set a “sell” rating and a $44.00 target price on the stock. Royal Bank of Canada raised Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. Finally, Barclays raised their price objective on Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.40.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $60.31, for a total transaction of $120,620.00. Following the sale, the executive vice president now directly owns 54,026 shares of the company’s stock, valued at approximately $3,258,308.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO John Tomovcsik sold 41,859 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $62.97, for a total transaction of $2,635,861.23. Following the transaction, the chief operating officer now directly owns 20,455 shares of the company’s stock, valued at $1,288,051.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $60.31, for a total value of $120,620.00. Following the completion of the sale, the executive vice president now owns 54,026 shares of the company’s stock, valued at $3,258,308.06. The disclosure for this sale can be found here. Insiders sold a total of 66,873 shares of company stock valued at $4,098,639 in the last quarter. 2.20% of the stock is owned by insiders.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.