DekaBank Deutsche Girozentrale Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

DekaBank Deutsche Girozentrale reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,126,012 shares of the financial services provider’s stock after selling 16,105 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Iron Mountain were worth $90,811,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in shares of Iron Mountain during the 1st quarter worth $1,249,000. Cetera Advisors LLC lifted its holdings in shares of Iron Mountain by 14.7% during the 1st quarter. Cetera Advisors LLC now owns 69,505 shares of the financial services provider’s stock worth $5,575,000 after acquiring an additional 8,917 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Iron Mountain by 708.9% during the 1st quarter. Cetera Investment Advisers now owns 229,863 shares of the financial services provider’s stock worth $18,437,000 after acquiring an additional 201,448 shares during the last quarter. PGGM Investments lifted its holdings in shares of Iron Mountain by 40.7% during the 1st quarter. PGGM Investments now owns 22,369 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 6,475 shares during the last quarter. Finally, Burney Co. lifted its holdings in shares of Iron Mountain by 77.3% during the 1st quarter. Burney Co. now owns 166,902 shares of the financial services provider’s stock worth $13,387,000 after acquiring an additional 72,777 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO John Tomovcsik sold 2,866 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the transaction, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at $1,575,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the transaction, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. The disclosure for this sale can be found here. Insiders sold a total of 99,919 shares of company stock valued at $8,791,683 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $95.29.

Iron Mountain Trading Down 2.6 %

Shares of Iron Mountain stock traded down $2.85 during trading on Friday, reaching $106.69. 3,465,848 shares of the stock were exchanged, compared to its average volume of 2,003,669. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock’s fifty day moving average is $91.45 and its 200 day moving average is $80.98. The firm has a market cap of $31.27 billion, a price-to-earnings ratio of 161.65, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $112.79.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.715 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 393.95%.

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.