Asset Management One Co. Ltd. Sells 7,696 Shares of Iron Mountain Incorporated (NYSE:IRM)

Asset Management One Co. Ltd. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 562,541 shares of the financial services provider’s stock after selling 7,696 shares during the quarter. Asset Management One Co. Ltd. owned 0.19% of Iron Mountain worth $58,909,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in shares of Iron Mountain by 2.8% in 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 buying an additional 1,446 shares during the last quarter. Friedenthal Financial bought a new position in Iron Mountain in the 3rd quarter valued at about $824,000. Merit Financial Group LLC increased its stake in Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 14,737 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 5,511 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IRM. Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $129.17.

Iron Mountain Stock Down 7.3 %

IRM opened at $95.20 on Friday. Iron Mountain Incorporated has a 52 week low of $66.86 and a 52 week high of $130.24. The stock has a market cap of $27.94 billion, a PE ratio of 264.44, a PEG ratio of 5.84 and a beta of 1.01. The business has a 50 day moving average of $105.94 and a 200-day moving average of $112.73.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.30%. Iron Mountain’s payout ratio is currently 794.47%.

Insider Activity

In other news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock valued at $16,805,912 in the last quarter. 2.10% of the stock is currently owned by insiders.

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.