Asset Management One Co. Ltd. Sells 7,696 Shares of Iron Mountain Incorporated (NYSE:IRM)

Asset Management One Co. Ltd. cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 562,541 shares of the financial services provider’s stock after selling 7,696 shares during the period. Asset Management One Co. Ltd.’s holdings in Iron Mountain were worth $58,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in shares of Iron Mountain by 4,950.0% during the third quarter. Exchange Traded Concepts LLC now owns 3,636 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 3,564 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in Iron Mountain during the 3rd quarter valued at $236,000. Creative Planning increased its holdings in shares of Iron Mountain by 2.2% in the 3rd quarter. Creative Planning now owns 98,905 shares of the financial services provider’s stock valued at $11,753,000 after acquiring an additional 2,083 shares during the period. Vontobel Holding Ltd. bought a new position in shares of Iron Mountain in the 3rd quarter worth $535,000. Finally, Quad Cities Investment Group LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth $203,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Down 7.3 %

Shares of IRM opened at $95.20 on Friday. Iron Mountain Incorporated has a 52-week low of $66.86 and a 52-week high of $130.24. The stock has a fifty day simple moving average of $105.94 and a two-hundred day simple moving average of $112.73. The company has a market capitalization of $27.94 billion, a PE ratio of 264.44, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.30%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 794.47%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.17.

Iron Mountain Company Profile

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.