DekaBank Deutsche Girozentrale Sells 16,105 Shares of Iron Mountain Incorporated (NYSE:IRM)

DekaBank Deutsche Girozentrale decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,126,012 shares of the financial services provider’s stock after selling 16,105 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.38% of Iron Mountain worth $90,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $36,000. Heritage Wealth Advisors purchased a new position in Iron Mountain during the fourth quarter worth about $38,000. Headlands Technologies LLC bought a new stake in Iron Mountain in the first quarter worth about $38,000. Finally, Harbor Investment Advisory LLC raised its position in Iron Mountain by 48.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IRM. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $95.29.

Iron Mountain Price Performance

NYSE:IRM traded down $2.85 during trading hours on Friday, hitting $106.69. 3,465,848 shares of the stock were exchanged, compared to its average volume of 2,003,669. The company has a current ratio of 0.79, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm’s fifty day moving average price is $91.45 and its 200 day moving average price is $80.98. The company has a market cap of $31.27 billion, a P/E ratio of 161.65, a P/E/G ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a 52-week low of $56.51 and a 52-week high of $112.79.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a $0.715 dividend. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.68%. Iron Mountain’s dividend payout ratio is 393.95%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total value of $1,286,351.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $23,956,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, Director Wendy J. Murdock sold 3,547 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $77.60, for a total transaction of $275,247.20. Following the transaction, the director now directly owns 20,944 shares in the company, valued at $1,625,254.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total value of $1,286,351.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $23,956,519.50. The disclosure for this sale can be found here. Insiders sold 99,919 shares of company stock worth $8,791,683 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.