Edgestream Partners L.P. Lowers Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Edgestream Partners L.P. lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 58.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,718 shares of the financial services provider’s stock after selling 32,961 shares during the period. Edgestream Partners L.P.’s holdings in Iron Mountain were worth $2,818,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Eventide Asset Management LLC increased its holdings in shares of Iron Mountain by 14.6% in the third quarter. Eventide Asset Management LLC now owns 343,836 shares of the financial services provider’s stock worth $40,858,000 after buying an additional 43,923 shares during the period. Captrust Financial Advisors increased its holdings in shares of Iron Mountain by 5.2% in the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after buying an additional 47,327 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain in the third quarter worth about $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Iron Mountain by 25.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 51,128 shares of the financial services provider’s stock valued at $6,076,000 after acquiring an additional 10,410 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays cut their price objective 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. Stifel Nicolaus lifted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Performance

Shares of IRM opened at $123.67 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The business’s 50 day moving average price is $120.59 and its 200-day moving average price is $106.02. Iron Mountain Incorporated has a 52 week low of $62.95 and a 52 week high of $130.24. The stock has a market cap of $36.29 billion, a P/E ratio of 343.53, a P/E/G ratio of 7.44 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.31%. Iron Mountain’s payout ratio is currently 794.44%.

Insider Buying and Selling

In related news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction 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. The trade was a 5.10 % decrease in their ownership of the stock. 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. Insiders own 2.10% of the company’s stock.

Iron Mountain 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.