Hodges Capital Management Inc. Sells 407 Shares of Iron Mountain Incorporated (NYSE:IRM)

Hodges Capital Management Inc. lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,757 shares of the financial services provider’s stock after selling 407 shares during the period. Hodges Capital Management Inc.’s holdings in Iron Mountain were worth $783,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IRM. Cohen & Steers Inc. lifted its stake in Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares in the last quarter. Deutsche Bank AG lifted its stake in Iron Mountain by 0.7% in the 3rd quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after acquiring an additional 29,683 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after acquiring an additional 1,546,592 shares in the last quarter. Norges Bank bought a new stake in Iron Mountain in the 4th quarter valued at approximately $228,391,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after acquiring an additional 81,741 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.5 %

Shares of Iron Mountain stock opened at $89.62 on Friday. Iron Mountain Incorporated has a 12-month low of $55.02 and a 12-month high of $90.40. The stock has a market cap of $26.27 billion, a P/E ratio of 135.79, a P/E/G ratio of 5.31 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The business’s 50 day moving average is $82.25 and its 200-day moving average is $75.99.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is presently 393.95%.

Insider Buying and Selling

In related news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the transaction, the chief operating officer now directly owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Tomovcsik sold 35,084 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the transaction, the chief operating officer now directly owns 20,366 shares in the company, valued at $1,807,686.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,511 shares of company stock valued at $8,787,218. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

IRM has been the topic of several research reports. The Goldman Sachs Group boosted their target price on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays upped their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.33.

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.