Eagle Asset Management Inc. Sells 58,137 Shares of Iron Mountain Incorporated (NYSE:IRM)

Eagle Asset Management Inc. cut its position in Iron Mountain Incorporated (NYSE:IRM) by 41.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,407 shares of the financial services provider’s stock after selling 58,137 shares during the quarter. Eagle Asset Management Inc.’s holdings in Iron Mountain were worth $9,865,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Iron Mountain during the second quarter worth $32,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain in the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain in the second quarter valued at $36,000. Finally, Family Firm Inc. bought a new position in Iron Mountain during the 2nd quarter worth $45,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Up 0.3 %

Iron Mountain stock opened at $119.10 on Friday. The company has a market capitalization of $34.95 billion, a PE ratio of 330.83, a PEG ratio of 7.11 and a beta of 0.99. Iron Mountain Incorporated has a 12-month low of $62.58 and a 12-month high of $130.24. The firm’s fifty day moving average is $119.86 and its 200 day moving average is $104.48. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. Iron Mountain’s dividend payout ratio is currently 794.44%.

Insider Activity

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 in the last three months. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays reduced their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Five equities 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.com, the company presently has a consensus rating of “Buy” and a consensus target price of $129.40.

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.