Border to Coast Pensions Partnership Ltd Sells 15,000 Shares of Iron Mountain Incorporated (NYSE:IRM)

Border to Coast Pensions Partnership Ltd reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 460,000 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Iron Mountain were worth $48,318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $824,000. Tidal Investments LLC lifted its holdings in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Iron Mountain in the third quarter worth about $24,122,000. Finally, World Investment Advisors LLC purchased a new position in Iron Mountain in the third quarter worth about $554,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 3.8 %

NYSE:IRM opened at $110.17 on Friday. The company has a market cap of $32.33 billion, a price-to-earnings ratio of 306.02, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02. Iron Mountain Incorporated has a twelve month low of $64.68 and a twelve month high of $130.24. The stock has a fifty day simple moving average of $111.56 and a 200-day simple moving average of $111.46.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.60%. Iron Mountain’s payout ratio is 794.47%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IRM. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays lowered their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and an average target price of $131.00.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This represents a 5.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 in the last three months. Company insiders own 2.10% of the company’s stock.

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.