Iron Mountain Incorporated (NYSE:IRM) Shares Sold by EWG Elevate Inc.

EWG Elevate Inc. reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,145 shares of the financial services provider’s stock after selling 2,210 shares during the period. Iron Mountain comprises 3.0% of EWG Elevate Inc.’s holdings, making the stock its 8th biggest position. EWG Elevate Inc.’s holdings in Iron Mountain were worth $7,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Compass Wealth Management LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $26,000. BOKF NA acquired a new stake in Iron Mountain during the first quarter valued at $31,000. True Wealth Design LLC acquired a new position in shares of Iron Mountain in the fourth quarter worth about $33,000. Kalos Management Inc. purchased a new stake in shares of Iron Mountain during the 1st quarter worth about $36,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 76.94% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $63.10 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 26.77. The stock has a market cap of $18.42 billion, a P/E ratio of 48.54, a PEG ratio of 4.18 and a beta of 0.92. The company has a 50-day moving average price of $61.47 and a 200 day moving average price of $56.81. Iron Mountain Incorporated has a 12-month low of $43.33 and a 12-month high of $64.37.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost 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 4.12%. Iron Mountain’s payout ratio is presently 200.00%.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 12,000 shares of Iron Mountain stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $61.53, for a total value of $738,360.00. Following the completion of the transaction, the director now directly owns 25,991 shares of the company’s stock, valued at approximately $1,599,226.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah Marson sold 2,381 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $59.21, for a total transaction of $140,979.01. Following the completion of the transaction, the executive vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,672,559.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 12,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $61.53, for a total value of $738,360.00. Following the sale, the director now directly owns 25,991 shares in the company, valued at approximately $1,599,226.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,395 shares of company stock worth $2,256,112. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Iron Mountain Company Profile

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.