Janus Henderson Group PLC Sells 4,460 Shares of Iron Mountain Incorporated (NYSE:IRM)

Janus Henderson Group PLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,244 shares of the financial services provider’s stock after selling 4,460 shares during the period. Janus Henderson Group PLC’s holdings in Iron Mountain were worth $7,752,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IRM. HighTower Advisors LLC grew its stake in Iron Mountain by 6.1% in the third quarter. HighTower Advisors LLC now owns 131,174 shares of the financial services provider’s stock worth $15,581,000 after purchasing an additional 7,529 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of Iron Mountain by 18.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 7,296 shares of the financial services provider’s stock worth $867,000 after buying an additional 1,134 shares during the period. Centiva Capital LP bought a new position in shares of Iron Mountain during the 3rd quarter worth $3,342,000. ClearAlpha Technologies LP purchased a new position in shares of Iron Mountain during the third quarter valued at $609,000. Finally, Concentric Capital Strategies LP bought a new stake in shares of Iron Mountain in the third quarter valued at about $4,867,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on IRM. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Royal Bank of Canada lifted 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. Finally, Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $131.00.

Insider Activity

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $120.16 on Monday. Iron Mountain Incorporated has a 12 month low of $64.66 and a 12 month high of $130.24. The stock has a fifty day moving average price of $120.76 and a 200-day moving average price of $107.52. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a market cap of $35.26 billion, a PE ratio of 333.79, a P/E/G ratio of 7.12 and a beta of 0.98.

Iron Mountain Announces Dividend

The firm 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 dividend of $0.715 per share. 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 2.38%. Iron Mountain’s payout ratio is 794.47%.

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.