Harvest Fund Management Co. Ltd Acquires 7,122 Shares of Iron Mountain Incorporated (NYSE:IRM)

Harvest Fund Management Co. Ltd raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 65.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,988 shares of the financial services provider’s stock after buying an additional 7,122 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Iron Mountain were worth $2,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the 3rd quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the second quarter valued at approximately $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain during the 2nd quarter valued at $45,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 1.5 %

NYSE:IRM opened at $120.84 on Tuesday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day simple moving average of $119.91 and a 200-day simple moving average of $104.96. Iron Mountain Incorporated has a one year low of $62.58 and a one year high of $130.24. The firm has a market cap of $35.46 billion, a P/E ratio of 335.68, a P/E/G ratio of 7.16 and a beta of 0.99.

Iron Mountain Announces Dividend

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 given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.37%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Analyst Ratings Changes

A number of analysts have weighed in on IRM shares. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Barclays dropped their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $129.40.

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.