Iron Mountain Incorporated (NYSE:IRM) Stake Lessened by Morse Asset Management Inc

Morse Asset Management Inc decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 19.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,115 shares of the financial services provider’s stock after selling 7,075 shares during the period. Morse Asset Management Inc’s holdings in Iron Mountain were worth $2,335,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Cohen & Steers Inc. lifted its stake in Iron Mountain by 202.1% in the fourth 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 during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after acquiring an additional 475,849 shares during the last quarter. Norges Bank bought a new position in shares of Iron Mountain in the 4th quarter valued at approximately $228,391,000. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $220,975,000 after purchasing an additional 81,741 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Iron Mountain by 59.1% during the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock worth $145,879,000 after purchasing an additional 772,988 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company upped their price target on shares of Iron Mountain from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $86.17.

Insiders Place Their Bets

In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $77.80, for a total transaction of $155,600.00. Following the completion of the sale, the executive vice president now owns 63,286 shares of the company’s stock, valued at $4,923,650.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $77.80, for a total transaction of $155,600.00. Following the sale, the executive vice president now owns 63,286 shares in the company, valued at $4,923,650.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy J. Murdock sold 1,500 shares of Iron Mountain stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the transaction, the director now directly owns 24,491 shares of the company’s stock, valued at $1,845,396.85. The disclosure for this sale can be found here. Insiders sold 100,553 shares of company stock worth $8,759,378 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

IRM stock traded up $1.60 during midday trading on Friday, hitting $98.50. The stock had a trading volume of 1,193,311 shares, compared to its average volume of 1,642,411. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a 50-day simple moving average of $89.17 and a 200 day simple moving average of $79.87. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $101.38. The firm has a market capitalization of $28.87 billion, a price-to-earnings ratio of 149.24, a P/E/G ratio of 5.83 and a beta of 0.98.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

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.