Hancock Whitney Corp Trims Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Hancock Whitney Corp lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,799 shares of the financial services provider’s stock after selling 3,577 shares during the period. Hancock Whitney Corp’s holdings in Iron Mountain were worth $1,027,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. increased its holdings in shares of 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 worth $1,572,936,000 after buying an additional 15,035,937 shares during the last quarter. Norges Bank bought a new position in shares of Iron Mountain in the 4th quarter worth $228,391,000. Daiwa Securities Group Inc. increased its holdings in shares of 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 worth $285,960,000 after buying an additional 1,546,592 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after purchasing an additional 1,519,237 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after purchasing an additional 772,988 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.5 %

Shares of Iron Mountain stock traded down $1.62 during trading on Friday, hitting $107.92. The company’s stock had a trading volume of 911,048 shares, compared to its average volume of 1,639,877. The company has a market capitalization of $31.63 billion, a PE ratio of 164.38, a P/E/G ratio of 6.08 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $112.69. The company has a fifty day simple moving average of $90.92 and a two-hundred day simple moving average of $80.70.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a dividend of $0.715 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the sale, the chief operating officer now directly owns 20,366 shares in the company, valued at approximately $1,807,686.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Greg W. Mcintosh sold 13,923 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the sale, the executive vice president now owns 18,107 shares of the company’s stock, valued at approximately $1,582,732.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John Tomovcsik sold 35,084 shares of the firm’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 completion of the transaction, the chief operating officer now directly owns 20,366 shares in the company, valued at approximately $1,807,686.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,053 shares of company stock worth $8,490,753. 2.10% of the stock is owned by corporate insiders.

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.