Norden Group LLC Makes New $657,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Norden Group LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRMFree Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,190 shares of the financial services provider’s stock, valued at approximately $657,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State of Alaska Department of Revenue grew its stake in Iron Mountain by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 170,027 shares of the financial services provider’s stock worth $13,637,000 after buying an additional 637 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Iron Mountain in the 1st quarter worth approximately $149,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Iron Mountain by 21.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 129,953 shares of the financial services provider’s stock worth $10,424,000 after acquiring an additional 22,715 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth approximately $244,000. Finally, Claro Advisors LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth approximately $1,445,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on Iron Mountain

Iron Mountain Trading Down 0.2 %

NYSE:IRM opened at $91.60 on Friday. The company has a fifty day moving average of $83.66 and a 200 day moving average of $76.79. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $92.72. 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 $26.85 billion, a P/E ratio of 138.79, a P/E/G ratio of 5.44 and a beta of 0.98.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.84%. Iron Mountain’s dividend payout ratio is currently 393.94%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Wendy J. Murdock sold 1,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now directly owns 24,491 shares of the company’s stock, valued at approximately $1,845,396.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,053 shares of company stock worth $8,272,681. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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