Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Proffitt & Goodson Inc.

Proffitt & Goodson Inc. decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 22.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 539 shares of the financial services provider’s stock after selling 155 shares during the period. Proffitt & Goodson Inc.’s holdings in Iron Mountain were worth $64,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IRM. Legal & General Group Plc boosted its stake in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. AGF Management Ltd. increased its position in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares during the period. Bank of New York Mellon Corp lifted its stake in Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after buying an additional 6,562 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after purchasing an additional 402,625 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock worth $3,210,575 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on IRM shares. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays upped their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Iron Mountain presently has an average rating of “Buy” and an average price target of $129.80.

Iron Mountain Stock Up 2.4 %

Iron Mountain stock opened at $119.71 on Monday. The stock’s 50 day moving average price is $119.20 and its 200 day moving average price is $101.92. Iron Mountain Incorporated has a 1-year low of $58.55 and a 1-year high of $130.24. The company has a market cap of $35.13 billion, a PE ratio of 332.54, a price-to-earnings-growth ratio of 7.17 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.79.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.39%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

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.