Commerce Bank Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Commerce Bank trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 22.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,776 shares of the financial services provider’s stock after selling 5,773 shares during the quarter. Commerce Bank’s holdings in Iron Mountain were worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in shares of Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the period. AGF Management Ltd. lifted its position in shares of Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the period. Bank of New York Mellon Corp boosted its position in Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after acquiring an additional 6,562 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in Iron Mountain by 45.0% in the second 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. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Iron Mountain by 5.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider’s stock worth $105,348,000 after acquiring an additional 56,503 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 over the last three months. Insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.3 %

Iron Mountain stock opened at $119.10 on Friday. Iron Mountain Incorporated has a one year low of $62.58 and a one year high of $130.24. The business’s fifty day moving average is $119.86 and its 200 day moving average is $104.48. The stock has a market capitalization of $34.95 billion, a PE ratio of 330.83, a price-to-earnings-growth ratio of 7.11 and a beta of 0.99. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 dividend yield of 2.40%. Iron Mountain’s dividend payout ratio is presently 794.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group raised their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $129.40.

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.