Quantbot Technologies LP Lowers Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Quantbot Technologies LP trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 92.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,987 shares of the financial services provider's stock after selling 59,966 shares during the period. Quantbot Technologies LP's holdings in Iron Mountain were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of IRM. Legal & General Group Plc boosted its stake in shares of 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 worth $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. AGF Management Ltd. lifted its stake 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 worth $201,232,000 after buying an additional 972,101 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Iron Mountain by 2,193.9% during the third 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 last quarter. International Assets Investment Management LLC grew its stake in Iron Mountain by 12,953.4% during 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 acquiring an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings 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 acquiring an additional 402,625 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Iron Mountain Stock Down 0.5 %

Shares of IRM traded down $0.61 during midday trading on Tuesday, reaching $120.98. The stock had a trading volume of 1,186,332 shares, compared to its average volume of 1,586,866. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The company's fifty day simple moving average is $120.65 and its two-hundred day simple moving average is $106.47. The company has a market cap of $35.50 billion, a price-to-earnings ratio of 339.37, a PEG ratio of 7.43 and a beta of 0.98. Iron Mountain Incorporated has a 1-year low of $64.66 and a 1-year high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued 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 2.36%. Iron Mountain's payout ratio is currently 794.47%.

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.