Green Alpha Advisors LLC Cuts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Green Alpha Advisors LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 35.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,971 shares of the financial services provider's stock after selling 8,788 shares during the period. Iron Mountain accounts for about 1.3% of Green Alpha Advisors LLC's holdings, making the stock its 19th biggest holding. Green Alpha Advisors LLC's holdings in Iron Mountain were worth $1,679,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock valued at $376,756,000 after buying an additional 2,672,821 shares during the last quarter. Legal & General Group Plc raised its stake in Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider's stock valued at $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. Mizuho Securities USA LLC lifted its position in Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock worth $61,613,000 after acquiring an additional 495,898 shares during the period. International Assets Investment Management LLC grew its stake in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider's stock valued at $53,312,000 after purchasing an additional 445,207 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in shares of Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider's stock valued at $116,356,000 after purchasing an additional 402,625 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last ninety days. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

Iron Mountain Price Performance

IRM stock traded down $1.05 during trading on Monday, reaching $100.11. 280,320 shares of the company were exchanged, compared to its average volume of 1,883,829. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The stock's 50 day moving average price is $112.71 and its 200 day moving average price is $111.31. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24. The company has a market cap of $29.38 billion, a P/E ratio of 278.09, a PEG ratio of 6.70 and a beta of 1.02.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Monday, December 16th. Iron Mountain's dividend payout ratio is currently 794.44%.

Iron Mountain Company Profile

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.