Ethic Inc. Sells 1,092 Shares of Iron Mountain Incorporated (NYSE:IRM)

Ethic Inc. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,088 shares of the financial services provider’s stock after selling 1,092 shares during the quarter. Ethic Inc.’s holdings in Iron Mountain were worth $1,804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Wealth Management LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at $26,000. BOKF NA bought a new position in shares of Iron Mountain during the first quarter valued at $31,000. True Wealth Design LLC bought a new stake in Iron Mountain in the 4th quarter worth about $33,000. Kalos Management Inc. bought a new stake in Iron Mountain in the 1st quarter worth about $36,000. Finally, Tucker Asset Management LLC bought a new stake in Iron Mountain in the 1st quarter worth about $37,000. 76.94% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 0.1 %

Iron Mountain stock opened at $63.61 on Friday. The business has a 50-day simple moving average of $60.07 and a two-hundred day simple moving average of $55.92. The company has a market cap of $18.56 billion, a P/E ratio of 48.93, a P/E/G ratio of 4.12 and a beta of 0.93. Iron Mountain Incorporated has a 52-week low of $43.33 and a 52-week high of $64.20. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 26.77.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.65 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s payout ratio is currently 190.00%.

Insider Activity

In other news, EVP Edward Baker-Greene sold 4,578 shares of Iron Mountain stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $55.00, for a total transaction of $251,790.00. Following the transaction, the executive vice president now directly owns 8,216 shares of the company’s stock, valued at approximately $451,880. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO John Tomovcsik sold 57,872 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $55.96, for a total value of $3,238,517.12. Following the transaction, the chief operating officer now directly owns 50,455 shares of the company’s stock, valued at approximately $2,823,461.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Edward Baker-Greene sold 4,578 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $55.00, for a total value of $251,790.00. Following the completion of the transaction, the executive vice president now directly owns 8,216 shares in the company, valued at $451,880. The disclosure for this sale can be found here. Insiders have sold a total of 134,208 shares of company stock valued at $7,670,320 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on IRM shares. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $58.00 to $68.00 in a report on Monday, August 21st. Barclays lifted their price objective on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Finally, StockNews.com started coverage on Iron Mountain in a report on Thursday, August 17th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.75.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.