State Street Corp Has $1.98 Billion Stock Position in Iron Mountain Incorporated (NYSE:IRM)

State Street Corp cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,567,777 shares of the financial services provider's stock after selling 948,401 shares during the quarter. State Street Corp owned about 5.65% of Iron Mountain worth $1,980,411,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Iron Mountain by 26.3% during the 2nd quarter. CWM LLC now owns 7,645 shares of the financial services provider's stock worth $685,000 after buying an additional 1,593 shares during the period. Czech National Bank boosted its holdings in shares of Iron Mountain by 8.7% during the second quarter. Czech National Bank now owns 55,859 shares of the financial services provider's stock worth $5,006,000 after acquiring an additional 4,483 shares during the period. Nepsis Inc. grew its position in shares of Iron Mountain by 2.2% in the second quarter. Nepsis Inc. now owns 70,251 shares of the financial services provider's stock valued at $6,296,000 after purchasing an additional 1,516 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Iron Mountain by 12.2% during the second quarter. Sequoia Financial Advisors LLC now owns 7,935 shares of the financial services provider's stock worth $711,000 after purchasing an additional 862 shares during the period. Finally, Terra Nova Asset Management LLC boosted its stake in Iron Mountain by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider's stock valued at $2,905,000 after purchasing an additional 120 shares during the period. Institutional investors own 80.13% of the company's stock.

Insider Activity

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company's stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,125 shares of company stock worth $6,613,584. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

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

Iron Mountain Price Performance

Shares of NYSE IRM traded up $1.79 during trading hours on Friday, hitting $120.16. 1,131,812 shares of the stock were exchanged, compared to its average volume of 1,331,495. The company's fifty day simple moving average is $120.76 and its two-hundred day simple moving average is $107.16. The company has a market cap of $35.26 billion, a PE ratio of 333.73, a price-to-earnings-growth ratio of 7.12 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. 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 announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio is presently 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.