Iron Mountain Incorporated (NYSE:IRM) Shares Sold by American International Group Inc.

Posted by Defense World Staff on Jun 4th, 2023

American International Group Inc. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,091 shares of the financial services provider’s stock after selling 2,094 shares during the period. American International Group Inc.’s holdings in Iron Mountain were worth $3,993,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Colonial River Wealth Management LLC raised its stake in shares of Iron Mountain by 3.3% in the 4th quarter. Colonial River Wealth Management LLC now owns 9,839 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 313 shares during the period. Amalgamated Bank boosted its position in shares of Iron Mountain by 1.8% in the fourth quarter. Amalgamated Bank now owns 109,123 shares of the financial services provider’s stock worth $5,440,000 after buying an additional 1,960 shares during the period. Checchi Capital Advisers LLC grew its stake in shares of Iron Mountain by 19.6% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,100 shares of the financial services provider’s stock valued at $304,000 after buying an additional 1,000 shares in the last quarter. Marble Harbor Investment Counsel LLC raised its holdings in shares of Iron Mountain by 0.8% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 471,632 shares of the financial services provider’s stock valued at $23,511,000 after buying an additional 3,692 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Iron Mountain during the 4th quarter worth approximately $1,386,000. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th. Barclays lifted their price target on shares of Iron Mountain from $56.00 to $64.00 in a research note on Friday, May 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a research report on Monday, March 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.00.

Insider Activity

In related news, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $53.72, for a total value of $60,435.00. Following the completion of the sale, the executive vice president now directly owns 63,151 shares of the company’s stock, valued at $3,392,471.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction dated Friday, April 14th. The shares were sold at an average price of $53.55, for a total value of $562,649.85. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $15,832,057.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $53.72, for a total transaction of $60,435.00. Following the sale, the executive vice president now directly owns 63,151 shares of the company’s stock, valued at approximately $3,392,471.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,990 shares of company stock worth $2,129,117. 2.20% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 3.9 %

Shares of NYSE:IRM opened at $55.23 on Friday. The firm has a market cap of $16.11 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 3.66 and a beta of 0.91. The company has a fifty day simple moving average of $53.89 and a 200 day simple moving average of $53.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 19.91. Iron Mountain Incorporated has a 12-month low of $43.33 and a 12-month high of $57.21.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be given a $0.6185 dividend. This represents a $2.47 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Wednesday, June 14th. Iron Mountain’s payout ratio is currently 124.75%.

Iron Mountain Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.