BTC Capital Management Inc. trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 36.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,353 shares of the financial services provider’s stock after selling 3,101 shares during the period. BTC Capital Management Inc.’s holdings in Iron Mountain were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in IRM. Compass Wealth Management LLC purchased a new stake in Iron Mountain during the fourth quarter valued at approximately $26,000. Prostatis Group LLC bought a new position in Iron Mountain during the fourth quarter valued at $28,000. BOKF NA purchased a new position in shares of Iron Mountain during the 1st quarter worth about $31,000. True Wealth Design LLC purchased a new position in shares of Iron Mountain during the 4th quarter worth about $33,000. Finally, Kalos Management Inc. bought a new stake in Iron Mountain during the 1st quarter valued at about $36,000. 76.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
IRM has been the subject of a number of research analyst reports. StockNews.com started coverage on shares of Iron Mountain in a report on Thursday, August 17th. They set a “hold” rating for the company. Royal Bank of Canada upgraded shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. Finally, Barclays boosted their target price on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.75.
Iron Mountain Stock Performance
IRM opened at $63.10 on Tuesday. The company has a debt-to-equity ratio of 26.77, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day moving average price of $61.47 and a 200 day moving average price of $56.81. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $64.37. The stock has a market cap of $18.42 billion, a P/E ratio of 48.54, a P/E/G ratio of 4.18 and a beta of 0.92.
Iron Mountain Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a $0.65 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, September 14th. Iron Mountain’s payout ratio is currently 200.00%.
Insider Activity at Iron Mountain
In other Iron Mountain news, Director Wendy J. Murdock sold 12,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $61.53, for a total transaction of $738,360.00. Following the completion of the transaction, the director now directly owns 25,991 shares in the company, valued at $1,599,226.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Wendy J. Murdock sold 12,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $61.53, for a total value of $738,360.00. Following the completion of the sale, the director now directly owns 25,991 shares in the company, valued at $1,599,226.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Marson sold 2,381 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $59.21, for a total transaction of $140,979.01. Following the completion of the sale, the executive vice president now owns 62,026 shares of the company’s stock, valued at $3,672,559.46. The disclosure for this sale can be found here. Insiders sold a total of 37,395 shares of company stock worth $2,256,112 in the last three months. Company insiders own 2.20% of the company’s stock.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.
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