Macquarie Group Ltd. cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 55.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,923 shares of the financial services provider’s stock after selling 53,913 shares during the period. Macquarie Group Ltd.’s holdings in Iron Mountain were worth $2,271,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in IRM. Toroso Investments LLC grew its position in Iron Mountain by 6.2% in the 1st quarter. Toroso Investments LLC now owns 18,733 shares of the financial services provider’s stock worth $991,000 after purchasing an additional 1,098 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Iron Mountain by 5.9% in the first quarter. Raleigh Capital Management Inc. now owns 3,557 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 199 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in Iron Mountain in the first quarter valued at about $444,000. Ameriprise Financial Inc. boosted its stake in Iron Mountain by 24.0% in the first quarter. Ameriprise Financial Inc. now owns 680,087 shares of the financial services provider’s stock valued at $36,050,000 after acquiring an additional 131,454 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Iron Mountain by 13.0% in the first quarter. Centaurus Financial Inc. now owns 6,746 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 777 shares during the last quarter. 76.94% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on IRM. Barclays upped their price target on shares of Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Royal Bank of Canada upgraded shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $58.00 to $68.00 in a research note on Monday, August 21st. Finally, StockNews.com started coverage on shares of Iron Mountain in a research note on Thursday, August 17th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $65.75.
Iron Mountain Price Performance
Shares of NYSE:IRM opened at $63.10 on Tuesday. The company’s fifty day moving average price is $61.47 and its 200-day moving average price is $56.81. The firm has a market capitalization of $18.42 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 4.24 and a beta of 0.92. Iron Mountain Incorporated has a one year low of $43.33 and a one year high of $64.37. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued 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 dividend yield of 4.12%. Iron Mountain’s dividend payout ratio is presently 200.00%.
Insider Transactions at Iron Mountain
In related news, EVP Deborah Marson sold 2,381 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $59.21, for a total transaction of $140,979.01. Following the transaction, the executive vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,672,559.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $60.22, for a total transaction of $632,731.54. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $17,804,043. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah Marson sold 2,381 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $59.21, for a total transaction of $140,979.01. Following the sale, the executive vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,672,559.46. The disclosure for this sale can be found here. Insiders have sold 37,395 shares of company stock valued at $2,256,112 in the last quarter. Insiders own 2.20% of the company’s stock.
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.
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