Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in Iron Mountain Incorporated (NYSE:IRM)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.1% during the third quarter, HoldingsChannel.com reports. The fund owned 8,685 shares of the financial services provider’s stock after selling 770 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Iron Mountain were worth $1,032,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Friedenthal Financial acquired a new stake in Iron Mountain during the third quarter worth about $824,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Iron Mountain by 22.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after buying an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after buying an additional 12,540 shares during the period. Brookstone Capital Management lifted its holdings in Iron Mountain by 13.2% in the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after acquiring an additional 11,454 shares during the last quarter. Finally, Goldstone Financial Group LLC acquired a new stake in Iron Mountain during the third quarter worth $540,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on 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 owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,387 shares of company stock worth $6,861,838. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Up 1.6 %

IRM stock opened at $114.88 on Monday. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 319.12, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99. The company has a fifty day moving average price of $119.57 and a 200 day moving average price of $103.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 12 month low of $61.59 and a 12 month high of $130.24.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.49%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain has a consensus rating of “Buy” and an average price target of $129.80.

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.