FCG Investment Co Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

FCG Investment Co lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 25.1% during the first quarter, Holdings Channel.com reports. The firm owned 8,697 shares of the financial services provider’s stock after selling 2,912 shares during the quarter. FCG Investment Co’s holdings in Iron Mountain were worth $698,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. First Trust Direct Indexing L.P. boosted its holdings in Iron Mountain by 6.2% in the first quarter. First Trust Direct Indexing L.P. now owns 6,114 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 356 shares in the last quarter. Norden Group LLC acquired a new position in shares of Iron Mountain in the first quarter valued at about $657,000. State of Alaska Department of Revenue boosted its position in Iron Mountain by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 170,027 shares of the financial services provider’s stock valued at $13,637,000 after buying an additional 637 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $149,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Iron Mountain by 21.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 129,953 shares of the financial services provider’s stock valued at $10,424,000 after acquiring an additional 22,715 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded up $0.93 during trading on Thursday, reaching $91.78. The company’s stock had a trading volume of 1,362,517 shares, compared to its average volume of 2,603,027. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $92.72. The firm has a market cap of $26.90 billion, a PE ratio of 139.00, a P/E/G ratio of 5.38 and a beta of 0.98. The company has a 50-day moving average price of $83.09 and a two-hundred day moving average price of $76.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IRM shares. Wells Fargo & Company increased their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.33.

Insiders Place Their Bets

In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $78.48, for a total transaction of $156,960.00. Following the completion of the transaction, the executive vice president now directly owns 65,286 shares in the company, valued at approximately $5,123,645.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the transaction, the executive vice president now directly owns 65,286 shares in the company, valued at approximately $5,123,645.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,053 shares of company stock worth $8,429,641. 2.10% of the stock is owned by corporate insiders.

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.