King Luther Capital Management Corp Grows Position in Iron Mountain Incorporated (NYSE:IRM)

King Luther Capital Management Corp raised its holdings in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 40.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,499 shares of the financial services provider’s stock after acquiring an additional 5,949 shares during the period. King Luther Capital Management Corp’s holdings in Iron Mountain were worth $998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IRM. Trust Co. of Vermont purchased a new position in shares of Iron Mountain during the 2nd quarter valued at about $25,000. SJS Investment Consulting Inc. purchased a new position in shares of Iron Mountain during the 1st quarter valued at about $28,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Iron Mountain during the 1st quarter valued at about $28,000. Lindbrook Capital LLC raised its holdings in shares of Iron Mountain by 63.1% during the 2nd quarter. Lindbrook Capital LLC now owns 597 shares of the financial services provider’s stock valued at $29,000 after buying an additional 231 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of Iron Mountain during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 76.80% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $52.96 on Wednesday. The stock’s 50 day simple moving average is $48.82 and its 200 day simple moving average is $50.14. The company has a debt-to-equity ratio of 19.16, a current ratio of 0.90 and a quick ratio of 0.90. Iron Mountain Incorporated has a 1 year low of $41.67 and a 1 year high of $58.61. The firm has a market cap of $15.40 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 3.68 and a beta of 0.84.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th will be given a $0.618 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.67%. Iron Mountain’s dividend payout ratio is currently 146.15%.

Insider Transactions at Iron Mountain

In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $53.82, for a total value of $60,547.50. Following the sale, the executive vice president now directly owns 50,282 shares in the company, valued at approximately $2,706,177.24. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $53.82, for a total value of $60,547.50. Following the sale, the executive vice president now directly owns 50,282 shares in the company, valued at approximately $2,706,177.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 10,509 shares of Iron Mountain stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $46.20, for a total value of $485,515.80. Following the completion of 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. In the last three months, insiders have sold 24,391 shares of company stock worth $1,202,948. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IRM has been the topic of a number of research reports. StockNews.com assumed coverage on Iron Mountain in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Evercore ISI reduced their price target on Iron Mountain to $60.00 in a research report on Tuesday, November 15th.

Iron Mountain Company 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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