Lazard Asset Management LLC Sells 2,981 Shares of Iron Mountain Incorporated (NYSE:IRM)

Lazard Asset Management LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,250 shares of the financial services provider’s stock after selling 2,981 shares during the period. Lazard Asset Management LLC owned 0.05% of Iron Mountain worth $12,692,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IRM. Cohen & Steers Inc. grew its position in shares of Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares during the period. Norges Bank bought a new stake in Iron Mountain in the fourth quarter valued at $228,391,000. Daiwa Securities Group Inc. raised its holdings in shares of Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after purchasing an additional 1,546,592 shares during the period. Centersquare Investment Management LLC boosted its position in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after buying an additional 772,988 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.7 %

Shares of IRM traded up $1.60 during trading hours on Friday, reaching $98.50. 1,193,311 shares of the stock traded hands, compared to its average volume of 1,642,411. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $101.38. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a fifty day simple moving average of $89.17 and a 200 day simple moving average of $79.78. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 149.24, a PEG ratio of 5.83 and a beta of 0.98.

Iron Mountain Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IRM shares. Stifel Nicolaus raised their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. One investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.17.

Insider Activity

In other Iron Mountain news, COO John Tomovcsik sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now owns 17,866 shares of the company’s stock, valued at $1,786,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction on 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 can be accessed through the SEC website. Also, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now directly owns 17,866 shares in the company, valued at approximately $1,786,600. The disclosure for this sale can be found here. Insiders sold a total of 100,553 shares of company stock valued at $8,759,378 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain 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.