Credit Suisse AG lowered its stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 386,060 shares of the financial services provider’s stock after selling 33,057 shares during the quarter. Credit Suisse AG owned about 0.13% of Iron Mountain worth $20,426,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in Iron Mountain by 15.1% in the 1st quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 328 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Iron Mountain by 71.3% during the first quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock worth $1,028,000 after buying an additional 7,719 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Iron Mountain by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock valued at $2,147,000 after buying an additional 2,399 shares during the last quarter. APG Asset Management N.V. lifted its stake in Iron Mountain by 13.0% in the 1st quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock valued at $907,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in Iron Mountain by 52.8% during the 1st quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 2,608 shares during the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.
Wall Street Analysts Forecast Growth
IRM has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Iron Mountain in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Barclays boosted their price target on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Finally, Royal Bank of Canada raised Iron Mountain from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $58.00 to $68.00 in a research report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $65.75.
Insiders Place Their Bets
In other news, CAO Daniel Borges sold 3,356 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $55.00, for a total value of $184,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Daniel Borges sold 3,356 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $55.00, for a total value of $184,580.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward Baker-Greene sold 4,578 shares of Iron Mountain stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $55.00, for a total transaction of $251,790.00. Following the sale, the executive vice president now directly owns 8,216 shares of the company’s stock, valued at approximately $451,880. The disclosure for this sale can be found here. Insiders have sold a total of 134,208 shares of company stock valued at $7,670,320 over the last 90 days. 2.20% of the stock is currently owned by insiders.
Iron Mountain Stock Performance
Shares of IRM stock opened at $61.07 on Thursday. The company has a fifty day moving average price of $59.14 and a two-hundred day moving average price of $55.52. Iron Mountain Incorporated has a one year low of $43.33 and a one year high of $62.88. The stock has a market cap of $17.82 billion, a P/E ratio of 46.98, a P/E/G ratio of 3.95 and a beta of 0.93. The company has a debt-to-equity ratio of 26.77, a current ratio of 0.78 and a quick ratio of 0.78.
Iron Mountain Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.60 dividend on an annualized basis and a yield of 4.26%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio (DPR) is presently 190.00%.
Iron Mountain Profile
Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.
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