Capital World Investors Reduces Stake in Iron Mountain Incorporated (NYSE:IRM)

Capital World Investors lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,116,123 shares of the financial services provider’s stock after selling 956 shares during the period. Capital World Investors owned approximately 1.40% of Iron Mountain worth $330,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Blue Trust Inc. increased its holdings in shares of Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at approximately $32,000. Transcendent Capital Group LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at approximately $36,000. Heritage Wealth Advisors purchased a new position in shares of Iron Mountain in the 4th quarter valued at approximately $38,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IRM shares. Stifel Nicolaus lifted their price objective on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their price objective on Iron Mountain from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price objective on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.17.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 1,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the sale, the director now directly owns 24,491 shares of the company’s stock, valued at approximately $1,845,396.85. The disclosure for this sale can be found here. Insiders sold 100,553 shares of company stock worth $8,759,378 over the last three months. 2.10% of the stock is owned by insiders.

Iron Mountain Trading Up 1.7 %

Iron Mountain stock traded up $1.60 during trading on Friday, hitting $98.50. The company’s stock had a trading volume of 1,193,311 shares, compared to its average volume of 1,642,411. The stock has a market capitalization of $28.87 billion, a price-to-earnings ratio of 149.24, a P/E/G ratio of 5.74 and a beta of 0.98. The stock’s fifty day moving average is $89.17 and its 200 day moving average is $79.70. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $101.38. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.64%. Iron Mountain’s dividend payout ratio is presently 393.95%.

Iron Mountain Company 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.