GAMMA Investing LLC Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

GAMMA Investing LLC boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,329 shares of the financial services provider’s stock after purchasing an additional 535 shares during the period. GAMMA Investing LLC’s holdings in Iron Mountain were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Principal Financial Group Inc. boosted its holdings in Iron Mountain by 3.4% in the third quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock valued at $41,882,000 after acquiring an additional 11,685 shares in the last quarter. IMS Capital Management bought a new position in Iron Mountain in the third quarter worth about $214,000. Lord Abbett & CO. LLC purchased a new stake in Iron Mountain in the third quarter worth about $24,122,000. Oddo BHF Asset Management Sas purchased a new position in shares of Iron Mountain during the 3rd quarter worth approximately $10,206,000. Finally, Tidal Investments LLC raised its position in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 0.9 %

Shares of NYSE:IRM opened at $105.70 on Monday. The stock’s fifty day moving average price is $115.05 and its 200-day moving average price is $110.84. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $31.02 billion, a P/E ratio of 293.62, a PEG ratio of 6.70 and a beta of 0.98. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.71%. Iron Mountain’s dividend payout ratio is presently 794.44%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IRM shares. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lifted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $131.00.

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.