Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Burney Co.

Burney Co. cut its position in Iron Mountain Incorporated (NYSE:IRM) by 22.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 57,636 shares of the financial services provider’s stock after selling 16,730 shares during the period. Burney Co.’s holdings in Iron Mountain were worth $3,275,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IRM. Acadian Asset Management LLC grew its stake in shares of Iron Mountain by 15.1% in the first quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock valued at $137,000 after buying an additional 328 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Iron Mountain by 71.3% in the first quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock valued at $1,028,000 after purchasing an additional 7,719 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Iron Mountain by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock valued at $2,147,000 after purchasing an additional 2,399 shares during the period. APG Asset Management N.V. lifted its holdings in Iron Mountain by 13.0% during the 1st quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock worth $907,000 after buying an additional 2,100 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Iron Mountain by 52.8% during the first quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 2,608 shares in the last quarter. 76.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $57.68, for a total value of $115,360.00. Following the sale, the executive vice president now owns 56,026 shares of the company’s stock, valued at approximately $3,231,579.68. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Iron Mountain news, COO John Tomovcsik sold 41,859 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $62.97, for a total transaction of $2,635,861.23. Following the transaction, the chief operating officer now owns 20,455 shares of the company’s stock, valued at approximately $1,288,051.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $57.68, for a total value of $115,360.00. Following the transaction, the executive vice president now directly owns 56,026 shares in the company, valued at approximately $3,231,579.68. The disclosure for this sale can be found here. Insiders have sold 66,873 shares of company stock valued at $4,098,639 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays lifted their target price on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $58.00 to $68.00 in a research report on Monday, August 21st. UBS Group assumed coverage on Iron Mountain in a research report on Tuesday, November 7th. They issued a “sell” rating and a $44.00 price target on the stock. Finally, StockNews.com assumed coverage on Iron Mountain in a research report on Thursday, October 5th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $62.19 on Thursday. The business’s 50 day simple moving average is $60.39 and its 200-day simple moving average is $58.91. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 65.46, a price-to-earnings-growth ratio of 3.74 and a beta of 0.90. The company has a debt-to-equity ratio of 43.97, a current ratio of 0.81 and a quick ratio of 0.81. Iron Mountain Incorporated has a 12 month low of $48.92 and a 12 month high of $64.48.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, December 14th. Iron Mountain’s dividend payout ratio (DPR) is 273.69%.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.