Thompson Investment Management Inc. Invests $42,000 in Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Jul 9th, 2023

Thompson Investment Management Inc. acquired a new stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 800 shares of the financial services provider’s stock, valued at approximately $42,000.

Several other institutional investors have also added to or reduced their stakes in the business. Compass Wealth Management LLC purchased a new stake in shares of Iron Mountain during the 4th quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $33,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Iron Mountain by 440.1% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 625 shares in the last quarter. Allworth Financial LP boosted its holdings in Iron Mountain by 106.3% in the 1st quarter. Allworth Financial LP now owns 858 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 442 shares during the period. Finally, Point72 Middle East FZE purchased a new position in shares of Iron Mountain during the 4th quarter valued at $46,000. 76.21% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 0.5 %

IRM stock opened at $57.95 on Friday. Iron Mountain Incorporated has a one year low of $43.33 and a one year high of $58.58. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50 day moving average price is $55.55 and its two-hundred day moving average price is $53.51. The company has a market capitalization of $16.90 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 3.85 and a beta of 0.92.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th were paid a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Wednesday, June 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 124.75%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IRM shares. Barclays upped their target price on Iron Mountain from $56.00 to $64.00 in a research note on Friday, May 5th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th.

Insiders Place Their Bets

In related news, CFO Barry Hytinen sold 18,500 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $56.23, for a total transaction of $1,040,255.00. Following the transaction, the chief financial officer now owns 80,197 shares in the company, valued at $4,509,477.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $56.23, for a total transaction of $112,460.00. Following the completion of the transaction, the executive vice president now owns 62,026 shares of the company’s stock, valued at $3,487,721.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Barry Hytinen sold 18,500 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $56.23, for a total value of $1,040,255.00. Following the completion of the sale, the chief financial officer now directly owns 80,197 shares in the company, valued at $4,509,477.31. The disclosure for this sale can be found here. Insiders have sold a total of 134,678 shares of company stock valued at $7,482,890 in the last quarter. Insiders own 2.20% of the company’s stock.

Iron Mountain Company Profile

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.