Russell Investments Group Ltd. Has $61.44 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Russell Investments Group Ltd. increased its position in Iron Mountain Incorporated (NYSE:IRM) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,084,084 shares of the financial services provider’s stock after buying an additional 106,471 shares during the quarter. Russell Investments Group Ltd. owned 0.37% of Iron Mountain worth $61,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in Iron Mountain by 2.8% in the second quarter. US Bancorp DE now owns 29,707 shares of the financial services provider’s stock valued at $1,688,000 after acquiring an additional 811 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in Iron Mountain by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 7,545 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 314 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in Iron Mountain in the second quarter valued at approximately $290,000. Cetera Advisor Networks LLC boosted its holdings in Iron Mountain by 3.9% in the second quarter. Cetera Advisor Networks LLC now owns 128,434 shares of the financial services provider’s stock valued at $7,298,000 after acquiring an additional 4,843 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Iron Mountain by 0.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,795,269 shares of the financial services provider’s stock valued at $215,647,000 after acquiring an additional 19,337 shares during the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

IRM has been the topic of a number of research analyst reports. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $58.00 to $68.00 in a report on Monday, August 21st. UBS Group initiated coverage on Iron Mountain in a report on Tuesday, November 7th. They set a “sell” rating and a $44.00 price target on the stock. StockNews.com initiated coverage on Iron Mountain in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Barclays increased their price target on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. 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’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $61.75.

Iron Mountain Price Performance

Shares of IRM opened at $62.23 on Friday. Iron Mountain Incorporated has a 12-month low of $48.92 and a 12-month high of $64.48. The business’s fifty day moving average is $60.35 and its 200 day moving average is $58.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 43.97. The stock has a market cap of $18.17 billion, a P/E ratio of 65.51, a P/E/G ratio of 3.93 and a beta of 0.90.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, December 14th. Iron Mountain’s dividend payout ratio is currently 273.69%.

Iron Mountain 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.