Forsta AP Fonden Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Forsta AP Fonden lessened its holdings in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 32.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,100 shares of the financial services provider’s stock after selling 41,200 shares during the quarter. Forsta AP Fonden’s holdings in Iron Mountain were worth $4,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pictet Asset Management SA grew its holdings in shares of Iron Mountain by 67.9% during the second quarter. Pictet Asset Management SA now owns 2,866,745 shares of the financial services provider’s stock valued at $139,582,000 after buying an additional 1,159,261 shares during the last quarter. Border to Coast Pensions Partnership Ltd purchased a new stake in shares of Iron Mountain during the first quarter valued at approximately $44,022,000. Royal Bank of Canada grew its holdings in shares of Iron Mountain by 97.1% during the first quarter. Royal Bank of Canada now owns 1,069,486 shares of the financial services provider’s stock valued at $59,260,000 after buying an additional 526,994 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Iron Mountain by 64.6% during the second quarter. CIBC Private Wealth Group LLC now owns 1,210,728 shares of the financial services provider’s stock valued at $58,950,000 after buying an additional 475,137 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Iron Mountain by 32.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,818,456 shares of the financial services provider’s stock valued at $88,541,000 after buying an additional 449,724 shares during the last quarter. Hedge funds and other institutional investors own 76.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IRM. StockNews.com began coverage on shares of Iron Mountain in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Evercore ISI dropped their target price on shares of Iron Mountain to $60.00 in a report on Tuesday.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $52.06, for a total value of $546,994.42. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $15,391,539. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 10,507 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $52.06, for a total transaction of $546,994.42. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $15,391,539. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 10,509 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $46.20, for a total transaction of $485,515.80. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $13,659,030. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,391 shares of company stock worth $1,202,948. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.9 %

Shares of IRM stock opened at $52.30 on Friday. Iron Mountain Incorporated has a 12-month low of $41.67 and a 12-month high of $58.61. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 19.16. The firm’s 50 day moving average is $48.94 and its 200 day moving average is $50.21. The stock has a market capitalization of $15.20 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.59 and a beta of 0.84.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th will be given a $0.618 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $2.47 annualized dividend and a yield of 4.73%. Iron Mountain’s payout ratio is presently 146.15%.

Iron Mountain Profile

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Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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

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