Public Employees Retirement Association of Colorado Lowers Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Public Employees Retirement Association of Colorado lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,586 shares of the financial services provider’s stock after selling 1,311 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Iron Mountain were worth $2,022,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. State Street Corp boosted its stake in Iron Mountain by 1.8% during the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock worth $819,026,000 after buying an additional 261,765 shares during the period. Geode Capital Management LLC boosted its stake in shares of Iron Mountain by 12.1% in the first quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock valued at $411,015,000 after purchasing an additional 837,623 shares during the period. Deutsche Bank AG boosted its stake in shares of Iron Mountain by 10.5% in the first quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider’s stock valued at $242,550,000 after purchasing an additional 436,842 shares during the period. Moneta Group Investment Advisors LLC purchased a new position in shares of Iron Mountain in the fourth quarter valued at approximately $224,698,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Iron Mountain by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,219,190 shares of the financial services provider’s stock valued at $223,231,000 after purchasing an additional 116,057 shares during the period. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $57.68, for a total transaction of $115,360.00. Following the completion of the sale, the executive vice president now owns 56,026 shares in the company, valued at approximately $3,231,579.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William L. Meaney sold 10,507 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $59.08, for a total transaction of $620,753.56. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $17,467,002. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah Marson sold 2,000 shares of the business’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 transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 66,873 shares of company stock worth $4,098,639. 2.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IRM. Royal Bank of Canada raised shares of 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 research note on Monday, August 21st. Barclays raised their target price on shares of Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 7th. StockNews.com assumed coverage on shares of Iron Mountain in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, UBS Group assumed coverage on shares of Iron Mountain in a report on Tuesday, November 7th. They issued a “sell” rating and a $44.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.

Iron Mountain Stock Down 0.3 %

Shares of NYSE:IRM opened at $62.03 on Friday. The company has a market capitalization of $18.11 billion, a PE ratio of 65.30, a P/E/G ratio of 3.93 and a beta of 0.90. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 43.97. Iron Mountain Incorporated has a twelve month low of $48.92 and a twelve month high of $64.48. The firm has a 50 day simple moving average of $60.36 and a 200-day simple moving average of $58.93.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.60 annualized dividend and a dividend yield of 4.19%. Iron Mountain’s dividend payout ratio is presently 273.69%.

Iron Mountain Company Profile

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.