MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys Shares of 1,857 Iron Mountain Incorporated (NYSE:IRM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,857 shares of the financial services provider’s stock, valued at approximately $149,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Iron Mountain during the fourth quarter worth about $26,000. CVA Family Office LLC acquired a new stake in Iron Mountain in the 4th quarter worth about $32,000. Transcendent Capital Group LLC purchased a new stake in Iron Mountain in the 4th quarter valued at about $36,000. Finally, Heritage Wealth Advisors acquired a new position in shares of Iron Mountain during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.3 %

IRM opened at $90.87 on Wednesday. The firm’s 50 day moving average is $82.81 and its 200-day moving average is $76.36. Iron Mountain Incorporated has a 52-week low of $56.28 and a 52-week high of $91.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $26.64 billion, a P/E ratio of 137.68, a P/E/G ratio of 5.31 and a beta of 0.98.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.86%. Iron Mountain’s payout ratio is currently 393.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IRM shares. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. The Goldman Sachs Group boosted their price objective on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Barclays lifted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.33.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the completion of the transaction, the executive vice president now owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $22,670,442. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $78.48, for a total value of $156,960.00. Following the sale, the executive vice president now owns 65,286 shares in the company, valued at approximately $5,123,645.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,053 shares of company stock valued at $8,429,641. 2.10% of the stock is currently owned by insiders.

About Iron Mountain

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.