LMR Partners LLP Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

LMR Partners LLP cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 75.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,886 shares of the financial services provider's stock after selling 12,241 shares during the quarter. LMR Partners LLP's holdings in Iron Mountain were worth $462,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted 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 buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Iron Mountain by 76.3% in 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 grew its holdings 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 worth $190,553,000 after buying an additional 6,562 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in Iron Mountain by 45.0% in the 2nd 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 buying an additional 402,625 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Iron Mountain by 5.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider's stock valued at $105,348,000 after acquiring an additional 56,503 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company 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. Barclays dropped their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $129.40.

Iron Mountain Price Performance

Shares of IRM traded down $0.21 during trading hours on Wednesday, hitting $116.30. 691,498 shares of the company were exchanged, compared to its average volume of 1,597,859. Iron Mountain Incorporated has a fifty-two week low of $62.56 and a fifty-two week high of $130.24. The firm's fifty day moving average is $119.72 and its 200 day moving average is $103.81. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 323.61, a P/E/G ratio of 6.88 and a beta of 0.99.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors 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 dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio is currently 794.44%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company's stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock worth $6,613,584 over the last ninety days. Insiders own 2.10% of the company's stock.

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.