BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,218 Shares of Iron Mountain Incorporated (NYSE:IRM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,913 shares of the financial services provider’s stock after selling 7,218 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Iron Mountain were worth $5,812,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IRM. Atria Investments Inc purchased a new stake in shares of Iron Mountain during the 1st quarter worth approximately $1,873,000. EverSource Wealth Advisors LLC increased its position in Iron Mountain by 169.5% in the first quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider’s stock worth $74,000 after buying an additional 600 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Iron Mountain by 65.0% in the second quarter. GAMMA Investing LLC now owns 2,979 shares of the financial services provider’s stock valued at $267,000 after buying an additional 1,173 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Iron Mountain by 9.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after buying an additional 120 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in shares of Iron Mountain by 8.5% during the 2nd quarter. DNB Asset Management AS now owns 48,923 shares of the financial services provider’s stock worth $4,384,000 after acquiring an additional 3,822 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.7 %

IRM opened at $121.59 on Tuesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a one year low of $64.66 and a one year high of $130.24. The firm has a market capitalization of $35.68 billion, a P/E ratio of 337.75, a price-to-earnings-growth ratio of 7.44 and a beta of 0.99. The company has a fifty day moving average price of $120.59 and a 200-day moving average price of $106.19.

Iron Mountain Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.35%. Iron Mountain’s dividend payout ratio is currently 794.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IRM shares. 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. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays reduced their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company increased their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $131.00.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock valued at $6,613,584 in the last 90 days. 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.