Robeco Institutional Asset Management B.V. lowered its holdings in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 58.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,167 shares of the financial services provider’s stock after selling 27,322 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Iron Mountain were worth $2,015,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in shares of Iron Mountain in the second quarter valued at $3,005,000. Czech National Bank raised its holdings in Iron Mountain by 7.0% in the third quarter. Czech National Bank now owns 59,755 shares of the financial services provider’s stock valued at $7,101,000 after acquiring an additional 3,896 shares in the last quarter. GAMMA Investing LLC boosted its stake in Iron Mountain by 27.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,794 shares of the financial services provider’s stock valued at $451,000 after acquiring an additional 815 shares during the last quarter. Herbst Group LLC increased its position in shares of Iron Mountain by 5.2% in the 3rd quarter. Herbst Group LLC now owns 14,200 shares of the financial services provider’s stock worth $1,687,000 after purchasing an additional 700 shares during the last quarter. Finally, WealthBridge Capital Management LLC raised its stake in shares of Iron Mountain by 2.4% in the 3rd quarter. WealthBridge Capital Management LLC now owns 12,859 shares of the financial services provider’s stock valued at $1,528,000 after purchasing an additional 305 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.83.
Insider Buying and Selling at Iron Mountain
In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,016 shares of company stock valued at $13,666,427. Corporate insiders own 2.10% of the company’s stock.
Iron Mountain Trading Down 0.9 %
Shares of NYSE IRM opened at $100.64 on Tuesday. Iron Mountain Incorporated has a twelve month low of $66.20 and a twelve month high of $130.24. The firm has a 50-day moving average of $108.88 and a two-hundred day moving average of $112.65. The company has a market capitalization of $29.53 billion, a price-to-earnings ratio of 279.57, a PEG ratio of 5.58 and a beta of 1.02.
Iron Mountain Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.84%. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.
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.
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