Iron Mountain Incorporated (NYSE:IRM) Stake Reduced by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 29.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,393,628 shares of the financial services provider's stock after selling 985,949 shares during the quarter. Wellington Management Group LLP owned approximately 0.82% of Iron Mountain worth $284,435,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. PNC Financial Services Group Inc. raised its position in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock valued at $6,402,000 after purchasing an additional 1,446 shares in the last quarter. Friedenthal Financial acquired a new stake in Iron Mountain in the third quarter valued at $824,000. Hennion & Walsh Asset Management Inc. boosted its stake in Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider's stock valued at $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Brookstone Capital Management grew its holdings in Iron Mountain by 13.2% during the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider's stock worth $9,766,000 after acquiring an additional 11,454 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock worth $2,281,000 after purchasing an additional 5,086 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on IRM. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Stifel Nicolaus raised 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. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company increased their target price 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. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain currently has an average rating of "Buy" and an average price target of $131.00.

Iron Mountain Stock Performance

Shares of IRM traded up $1.79 during midday trading on Friday, hitting $120.16. 1,131,812 shares of the stock traded hands, compared to its average volume of 1,331,495. The business's 50 day moving average price is $120.76 and its two-hundred day moving average price is $107.33. The firm has a market capitalization of $35.26 billion, a PE ratio of 333.79, 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is 794.47%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction 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. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction 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 approximately $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. Over the last 90 days, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is owned by company insiders.

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.