Polar Asset Management Partners Inc. Reduces Holdings in Iron Mountain Incorporated (NYSE:IRM)

Polar Asset Management Partners Inc. reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 49.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,200 shares of the financial services provider's stock after selling 42,300 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Iron Mountain were worth $5,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of Iron Mountain by 49.2% in 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 purchasing an additional 1,286,694 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider's stock worth $402,396,000 after buying an additional 141,675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Iron Mountain by 537.0% during 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 worth $376,756,000 after buying an additional 2,672,821 shares during the period. AGF Management Ltd. boosted its position in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider's stock valued at $201,232,000 after acquiring an additional 972,101 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Iron Mountain by 0.3% during the 2nd 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 purchasing an additional 6,562 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the company's stock in a transaction dated 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on 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 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 over the last quarter. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

IRM stock traded down $0.50 during midday trading on Thursday, reaching $118.36. The stock had a trading volume of 1,414,160 shares, compared to its average volume of 1,590,239. Iron Mountain Incorporated has a 52-week low of $64.66 and a 52-week high of $130.24. The stock has a market cap of $34.73 billion, a PE ratio of 327.97, a P/E/G ratio of 7.19 and a beta of 0.98. 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 firm has a fifty day simple moving average of $120.66 and a two-hundred day simple moving average of $106.82.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.42%. Iron Mountain's dividend payout ratio (DPR) is presently 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.