Crossmark Global Holdings Inc. purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,484 shares of the financial services provider’s stock, valued at approximately $797,000.
A number of other hedge funds have also made changes to their positions in IRM. Creative Planning boosted its position in Iron Mountain by 4.6% during the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 134 shares during the period. Pacer Advisors Inc. boosted its position in Iron Mountain by 8.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,985 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 322 shares during the period. CIBC World Markets Inc. acquired a new position in Iron Mountain during the 2nd quarter worth $203,000. Penserra Capital Management LLC boosted its position in Iron Mountain by 7.5% during the 2nd quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 422 shares during the period. Finally, Bridgewater Associates LP acquired a new position in Iron Mountain during the 2nd quarter worth $207,000. Institutional investors own 87.58% of the company’s stock.
Shares of Iron Mountain Incorporated (IRM) opened at $40.99 on Tuesday. Iron Mountain Incorporated has a 12 month low of $30.75 and a 12 month high of $41.17. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 3.59. The company has a market capitalization of $10,853.66, a price-to-earnings ratio of 19.55, a PEG ratio of 6.34 and a beta of 1.02.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.55. Iron Mountain’s payout ratio is currently 275.00%.
In other news, VP Theodore Maclean sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $40.60, for a total transaction of $60,900.00. Following the sale, the vice president now directly owns 8,679 shares of the company’s stock, valued at $352,367.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patrick J. Keddy sold 23,428 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $39.04, for a total value of $914,629.12. The disclosure for this sale can be found here. Insiders sold a total of 48,379 shares of company stock worth $1,911,241 in the last three months. Company insiders own 1.50% of the company’s stock.
A number of research analysts have issued reports on IRM shares. Robert W. Baird boosted their price target on Iron Mountain from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. BidaskClub upgraded Iron Mountain from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Evercore ISI started coverage on Iron Mountain in a research report on Wednesday, October 18th. They set an “outperform” rating and a $46.00 price target for the company. Zacks Investment Research upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Monday, October 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price target on shares of Iron Mountain in a research report on Sunday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Iron Mountain has an average rating of “Buy” and a consensus target price of $41.20.
Iron Mountain Profile
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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