Iron Mountain Incorporated (NYSE:IRM) Holdings Reduced by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 19.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 668,804 shares of the financial services provider’s stock after selling 163,818 shares during the period. Wellington Management Group LLP owned approximately 0.23% of Iron Mountain worth $35,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Simplicity Solutions LLC grew its position in Iron Mountain by 16.6% in the 1st quarter. Simplicity Solutions LLC now owns 22,081 shares of the financial services provider’s stock worth $1,168,000 after purchasing an additional 3,140 shares during the last quarter. Flputnam Investment Management Co. bought a new position in shares of Iron Mountain in the first quarter valued at approximately $238,000. Securian Asset Management Inc. boosted its holdings in shares of Iron Mountain by 0.9% in the first quarter. Securian Asset Management Inc. now owns 24,331 shares of the financial services provider’s stock valued at $1,287,000 after acquiring an additional 221 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Iron Mountain by 39.7% in the first quarter. Citigroup Inc. now owns 354,664 shares of the financial services provider’s stock valued at $18,765,000 after acquiring an additional 100,699 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $1,463,000. Institutional investors own 76.94% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Royal Bank of Canada upgraded shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $58.00 to $68.00 in a report on Monday, August 21st. Finally, StockNews.com began coverage on shares of Iron Mountain in a research note on Thursday, August 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.75.

Iron Mountain Stock Down 0.6 %

IRM stock opened at $63.65 on Friday. Iron Mountain Incorporated has a 12 month low of $43.33 and a 12 month high of $64.37. The firm has a market cap of $18.58 billion, a PE ratio of 48.96, a P/E/G ratio of 4.21 and a beta of 0.92. The firm has a 50 day simple moving average of $60.72 and a 200 day simple moving average of $56.21. The company has a debt-to-equity ratio of 26.77, a current ratio of 0.78 and a quick ratio of 0.78.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a $0.65 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 14th. This represents a $2.60 dividend on an annualized basis and a yield of 4.08%. Iron Mountain’s dividend payout ratio (DPR) is currently 190.00%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $56.23, for a total value of $112,460.00. Following the completion of the sale, 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 SEC, which is accessible through this link. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $56.23, for a total value of $112,460.00. Following the completion of the sale, 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 SEC, which is accessible through this link. Also, CFO Barry Hytinen sold 18,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $4,509,477.31. The disclosure for this sale can be found here. Insiders have sold a total of 57,895 shares of company stock valued at $3,408,827 in the last three months. 2.20% of the stock is currently owned by company insiders.

Iron Mountain Profile

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.