Globeflex Capital L P Sells 4,000 Shares of Iron Mountain Incorporated (NYSE:IRM)

Globeflex Capital L P trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 13.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,253 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Globeflex Capital L P’s holdings in Iron Mountain were worth $1,389,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its position in shares of Iron Mountain by 4.0% in the first quarter. Brown Brothers Harriman & Co. now owns 4,820 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 187 shares during the period. Cresset Asset Management LLC grew its position in shares of Iron Mountain by 1.2% during the 1st quarter. Cresset Asset Management LLC now owns 16,001 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 195 shares in the last quarter. Coastline Trust Co increased its holdings in shares of Iron Mountain by 4.0% in the fourth quarter. Coastline Trust Co now owns 5,196 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 200 shares during the period. Czech National Bank raised its position in shares of Iron Mountain by 0.6% in the first quarter. Czech National Bank now owns 34,248 shares of the financial services provider’s stock worth $1,812,000 after buying an additional 203 shares in the last quarter. Finally, Mariner LLC boosted its stake in Iron Mountain by 1.1% during the first quarter. Mariner LLC now owns 19,352 shares of the financial services provider’s stock valued at $1,072,000 after buying an additional 204 shares during the period. Institutional investors own 76.94% of the company’s stock.

Insider Activity

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $56.23, for a total transaction of $112,460.00. Following the completion of the sale, the executive vice president now directly owns 62,026 shares in the company, valued at $3,487,721.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $56.23, for a total value of $112,460.00. Following the transaction, the executive vice president now directly owns 62,026 shares of the company’s stock, valued at $3,487,721.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $59.45, for a total transaction of $624,641.15. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $17,576,392.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,895 shares of company stock valued at $3,408,827. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. Barclays upped their price objective on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Finally, StockNews.com initiated coverage on shares of Iron Mountain in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $65.75.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $62.68 on Friday. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of 48.22, a P/E/G ratio of 4.23 and a beta of 0.92. The stock’s 50-day moving average is $60.84 and its 200 day moving average is $56.28. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 26.77. Iron Mountain Incorporated has a 1-year low of $43.33 and a 1-year high of $64.37.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.15%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 14th. Iron Mountain’s payout ratio is presently 190.00%.

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.