Duff & Phelps Investment Management Co. Has $147.42 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Duff & Phelps Investment Management Co. cut its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,240,606 shares of the financial services provider's stock after selling 57,724 shares during the quarter. Iron Mountain makes up 1.7% of Duff & Phelps Investment Management Co.'s portfolio, making the stock its 12th largest position. Duff & Phelps Investment Management Co. owned 0.42% of Iron Mountain worth $147,421,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock valued at $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Friedenthal Financial bought a new position in Iron Mountain in the 3rd quarter worth approximately $824,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider's stock worth $6,794,000 after buying an additional 12,540 shares in the last quarter. Brookstone Capital Management boosted its position in Iron Mountain by 13.2% in the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider's stock valued at $9,766,000 after buying an additional 11,454 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock valued at $2,281,000 after buying an additional 5,086 shares during the period. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on IRM shares. Barclays decreased their price target on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and an average target price of $131.00.

Insider Activity

In related news, Director Wendy J. Murdock sold 8,500 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company's stock, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock worth $6,613,584 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Trading Down 4.8 %

Shares of IRM stock traded down $5.81 on Monday, hitting $114.35. The stock had a trading volume of 2,007,228 shares, compared to its average volume of 1,590,063. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $64.68 and a twelve month high of $130.24. The company has a fifty day moving average price of $120.76 and a two-hundred day moving average price of $107.52. The firm has a market cap of $33.56 billion, a P/E ratio of 333.79, a PEG ratio of 7.20 and a beta of 0.98.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio is currently 794.47%.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.