Iron Mountain Incorporated (NYSE:IRM) Position Reduced by FCG Investment Co

FCG Investment Co reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 25.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,697 shares of the financial services provider’s stock after selling 2,912 shares during the quarter. FCG Investment Co’s holdings in Iron Mountain were worth $698,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after buying an additional 242 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth $26,000. CVA Family Office LLC purchased a new stake in shares of Iron Mountain during the fourth quarter valued at $32,000. Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $36,000. Finally, Heritage Wealth Advisors purchased a new position in Iron Mountain in the 4th quarter worth about $38,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the transaction, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at approximately $5,123,645.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $78.48, for a total transaction of $156,960.00. Following the completion of the sale, the executive vice president now owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The disclosure for this sale can be found here. Insiders sold 100,053 shares of company stock valued at $8,429,641 in the last quarter. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Wells Fargo & Company upped their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $78.33.

Iron Mountain Stock Up 1.0 %

Shares of NYSE IRM traded up $0.93 during mid-day trading on Thursday, reaching $91.78. The company had a trading volume of 1,362,517 shares, compared to its average volume of 2,603,027. The stock has a fifty day moving average of $83.09 and a two-hundred day moving average of $76.46. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $92.72. The company has a market capitalization of $26.90 billion, a price-to-earnings ratio of 139.00, a PEG ratio of 5.38 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

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.