Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Huntington National Bank

Huntington National Bank lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,730 shares of the financial services provider’s stock after selling 118 shares during the period. Huntington National Bank’s holdings in Iron Mountain were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IRM. Legal & General Group Plc grew its position in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. AGF Management Ltd. increased its stake in shares of 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 valued at $201,232,000 after acquiring an additional 972,101 shares during the period. Bank of New York Mellon Corp raised its holdings in Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in Iron Mountain by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after purchasing an additional 402,625 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Iron Mountain by 5.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider’s stock worth $105,348,000 after purchasing an additional 56,503 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was 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 directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IRM has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays lifted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lifted 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. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $129.80.

Iron Mountain Stock Up 1.6 %

IRM stock opened at $114.88 on Friday. The company’s 50 day simple moving average is $119.57 and its 200-day simple moving average is $103.07. Iron Mountain Incorporated has a 52-week low of $61.59 and a 52-week high of $130.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $33.71 billion, a P/E ratio of 319.12, a P/E/G ratio of 6.95 and a beta of 0.99.

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 issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 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.