Iron Mountain Incorporated (NYSE:IRM) Stock Position Lowered by Zacks Investment Management

Zacks Investment Management lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,619 shares of the financial services provider’s stock after selling 788 shares during the quarter. Zacks Investment Management’s holdings in Iron Mountain were worth $1,975,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain in the second quarter worth approximately $32,000. West Branch Capital LLC acquired a new position in Iron Mountain in the third quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at $36,000. Finally, Family Firm Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth $45,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $114.35 on Tuesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $33.56 billion, a price-to-earnings ratio of 317.64, a price-to-earnings-growth ratio of 7.20 and a beta of 0.98. The company has a 50 day simple moving average of $120.67 and a 200-day simple moving average of $107.77. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 794.44%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRM. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays reduced their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $131.00.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. 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 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

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.