Iron Mountain Incorporated (NYSE:IRM) Holdings Trimmed by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 20,435 shares of the financial services provider’s stock after selling 1,654 shares during the quarter. Kentucky Retirement Systems’ holdings in Iron Mountain were worth $2,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Friedenthal Financial bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $824,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after buying an additional 110,551 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Iron Mountain by 13.2% in the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock worth $9,766,000 after acquiring an additional 11,454 shares during the last quarter. Finally, Goldstone Financial Group LLC acquired a new stake in shares of Iron Mountain during the third quarter worth $540,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $114.88 on Monday. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 319.12, a P/E/G ratio of 6.88 and a beta of 0.99. Iron Mountain Incorporated has a 1 year low of $61.59 and a 1 year high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The business has a fifty day simple moving average of $119.57 and a 200 day simple moving average of $103.24.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.49%. Iron Mountain’s payout ratio is 794.47%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,387 shares of company stock worth $6,861,838. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.