Russell Investments Group Ltd. Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Russell Investments Group Ltd. raised its holdings in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 1,442.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 835,796 shares of the financial services provider’s stock after purchasing an additional 781,609 shares during the period. Russell Investments Group Ltd. owned 0.29% of Iron Mountain worth $36,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Co. of Vermont purchased a new stake in shares of Iron Mountain in the second quarter valued at about $25,000. Lindbrook Capital LLC lifted its holdings in shares of Iron Mountain by 63.1% in the second quarter. Lindbrook Capital LLC now owns 597 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 231 shares in the last quarter. CX Institutional acquired a new position in shares of Iron Mountain in the second quarter valued at approximately $33,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $2,038,000. Finally, Cambridge Trust Co. acquired a new position in shares of Iron Mountain in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Exane BNP Paribas assumed coverage on shares of Iron Mountain in a research report on Wednesday, December 14th. They issued an “outperform” rating for the company. Royal Bank of Canada initiated coverage on shares of Iron Mountain in a research note on Friday, December 16th. They set a “sector perform” rating and a $58.00 price objective for the company. BNP Paribas initiated coverage on shares of Iron Mountain in a research note on Wednesday, December 14th. They issued an “outperform” rating and a $66.00 target price for the company. Evercore ISI decreased their target price on shares of Iron Mountain to $60.00 in a research note on Tuesday, November 15th. Finally, StockNews.com began coverage on shares of Iron Mountain in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.00.

Iron Mountain Stock Down 0.2 %

IRM stock opened at $52.15 on Wednesday. The stock has a market cap of $15.16 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.45 and a beta of 0.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 19.16. The firm’s 50-day simple moving average is $52.22 and its 200 day simple moving average is $50.67. Iron Mountain Incorporated has a fifty-two week low of $41.67 and a fifty-two week high of $58.61.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th were given a dividend of $0.618 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $2.47 annualized dividend and a dividend yield of 4.74%. Iron Mountain’s dividend payout ratio (DPR) is 146.15%.

Insider Activity

In other news, EVP Deborah Marson sold 1,125 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $50.18, for a total transaction of $56,452.50. Following the completion of the transaction, the executive vice president now owns 48,032 shares in the company, valued at approximately $2,410,245.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO William L. Meaney sold 10,507 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $50.63, for a total transaction of $531,969.41. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $14,968,759.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Deborah Marson sold 1,125 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $50.18, for a total transaction of $56,452.50. Following the transaction, the executive vice president now directly owns 48,032 shares in the company, valued at approximately $2,410,245.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,896 shares of company stock worth $1,798,205. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

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Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

Further Reading

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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