Cambria Investment Management L.P. Buys Shares of 5,111 Iron Mountain Incorporated (NYSE:IRM)

Cambria Investment Management L.P. bought a new stake in Iron Mountain Incorporated (NYSE:IRM) in the second quarter, HoldingsChannel.com reports. The fund bought 5,111 shares of the financial services provider’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IRM. TrinityPoint Wealth LLC raised its holdings in shares of Iron Mountain by 4.0% during the second quarter. TrinityPoint Wealth LLC now owns 4,354 shares of the financial services provider’s stock valued at $247,000 after buying an additional 168 shares during the last quarter. Bank of New Hampshire raised its holdings in shares of Iron Mountain by 43.8% during the second quarter. Bank of New Hampshire now owns 575 shares of the financial services provider’s stock valued at $33,000 after buying an additional 175 shares during the last quarter. Armor Investment Advisors LLC raised its holdings in shares of Iron Mountain by 1.9% during the second quarter. Armor Investment Advisors LLC now owns 9,996 shares of the financial services provider’s stock valued at $568,000 after buying an additional 186 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Iron Mountain by 4.0% during the first quarter. Brown Brothers Harriman & Co. now owns 4,820 shares of the financial services provider’s stock valued at $255,000 after buying an additional 187 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in shares of Iron Mountain by 1.2% during the first quarter. Cresset Asset Management LLC now owns 16,001 shares of the financial services provider’s stock valued at $855,000 after buying an additional 195 shares during the last quarter. 76.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRM. StockNews.com began coverage on Iron Mountain in a report on Thursday, October 5th. They set a “hold” rating 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 company from $58.00 to $68.00 in a report on Monday, August 21st. Barclays upped their price target on Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Finally, UBS Group initiated coverage on Iron Mountain in a report on Tuesday, November 7th. They issued a “sell” rating and a $44.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.75.

Iron Mountain Trading Up 0.3 %

NYSE IRM opened at $62.23 on Friday. The firm’s 50 day moving average price is $60.35 and its two-hundred day moving average price is $58.98. The company has a debt-to-equity ratio of 43.97, a quick ratio of 0.81 and a current ratio of 0.81. Iron Mountain Incorporated has a twelve month low of $48.92 and a twelve month high of $64.48. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 65.51, a PEG ratio of 3.93 and a beta of 0.90.

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. This represents a $2.60 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, December 14th. Iron Mountain’s dividend payout ratio is currently 273.69%.

Insider Activity

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

Iron Mountain Company Profile

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.