Eagle Asset Management Inc. Sells 58,137 Shares of Iron Mountain Incorporated (NYSE:IRM)

Eagle Asset Management Inc. lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 41.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,407 shares of the financial services provider’s stock after selling 58,137 shares during the period. Eagle Asset Management Inc.’s holdings in Iron Mountain were worth $9,865,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after acquiring an additional 141,675 shares during the last quarter. AGF Management Ltd. grew its position in shares of Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after acquiring an additional 972,101 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Iron Mountain by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after purchasing an additional 402,625 shares during the period. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock valued at $6,613,584 in the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.3 %

Shares of Iron Mountain stock opened at $119.10 on Friday. The company’s 50-day moving average price is $119.86 and its 200-day moving average price is $104.48. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $62.58 and a 12-month high of $130.24. The company has a market cap of $34.95 billion, a price-to-earnings ratio of 330.83, a PEG ratio of 7.11 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Analyst Ratings Changes

IRM has been the subject of a number of recent research reports. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $129.40.

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.