Hourglass Capital LLC reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 41.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,280 shares of the financial services provider's stock after selling 24,690 shares during the quarter. Hourglass Capital LLC's holdings in Iron Mountain were worth $4,073,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. State Board of Administration of Florida Retirement System grew its stake in shares of Iron Mountain by 2.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider's stock valued at $25,787,000 after purchasing an additional 7,486 shares during the last quarter. Friedenthal Financial bought a new position in Iron Mountain in the third quarter valued at approximately $824,000. Price T Rowe Associates Inc. MD boosted its stake in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider's stock valued at $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider's stock valued at $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider's stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. 80.13% of the stock is owned by institutional investors.
Iron Mountain Stock Down 1.3 %
IRM traded down $1.45 on Thursday, hitting $114.53. 398,027 shares of the company were exchanged, compared to its average volume of 1,601,212. 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 fifty day moving average is $119.38 and its 200-day moving average is $102.56. The company has a market cap of $33.61 billion, a PE ratio of 322.15, a PEG ratio of 6.86 and a beta of 0.99. Iron Mountain Incorporated has a 12 month low of $61.59 and a 12 month high of $130.24.
Iron Mountain Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a 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%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on IRM shares. Barclays raised their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. 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 upgraded shares of Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $129.80.
Read Our Latest Report on Iron Mountain
Insider Activity
In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Wendy J. Murdock sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,387 shares of company stock valued at $6,971,838 in the last quarter. Company insiders own 2.10% of the company's stock.
Iron Mountain Profile
(
Free Report)
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.
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