Catalytic Wealth RIA LLC lowered its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 63.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,530 shares of the financial services provider's stock after selling 11,254 shares during the quarter. Catalytic Wealth RIA LLC's holdings in Iron Mountain were worth $776,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc grew its stake in Iron Mountain by 49.2% in the second 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 period. AGF Management Ltd. lifted its position in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider's stock valued at $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider's stock valued at $190,553,000 after purchasing an additional 6,562 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of Iron Mountain by 7,892.6% during 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 purchasing an additional 1,519,237 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of Iron Mountain by 45.0% during 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 in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. BNP Paribas upgraded 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 research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Five 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.com, Iron Mountain has a consensus rating of "Buy" and a consensus price target of $129.80.
Check Out Our Latest Analysis on IRM
Iron Mountain Price Performance
Shares of IRM stock traded down $1.71 during trading hours on Monday, reaching $118.00. The stock had a trading volume of 764,648 shares, compared to its average volume of 1,605,353. The stock's fifty day simple moving average is $119.20 and its 200 day simple moving average is $101.92. The company has a current ratio of 0.75, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $58.55 and a 12 month high of $130.24. The firm has a market capitalization of $34.63 billion, a PE ratio of 332.54, a PEG ratio of 7.17 and a beta of 0.99.
Iron Mountain Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. Iron Mountain's dividend payout ratio (DPR) is currently 794.47%.
Insider Activity
In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Edward Baker-Greene sold 2,262 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business'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 transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company's stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,637 shares of company stock worth $3,210,575. 2.10% of the stock is owned by company insiders.
About Iron Mountain
(
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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