Bessemer Group Inc. lowered its stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,628 shares of the financial services provider’s stock after selling 392 shares during the period. Bessemer Group Inc.’s holdings in Iron Mountain were worth $245,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. State Street Corp increased its position in shares of Iron Mountain by 1.8% in the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock worth $819,026,000 after purchasing an additional 261,765 shares during the period. Geode Capital Management LLC grew its position in Iron Mountain by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,944,305 shares of the financial services provider’s stock valued at $345,633,000 after acquiring an additional 172,801 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in Iron Mountain in the fourth quarter valued at about $224,698,000. Deutsche Bank AG grew its position in Iron Mountain by 3.2% in the fourth quarter. Deutsche Bank AG now owns 4,147,354 shares of the financial services provider’s stock valued at $206,746,000 after acquiring an additional 127,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Iron Mountain by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,103,133 shares of the financial services provider’s stock valued at $204,542,000 after acquiring an additional 54,106 shares during the last quarter. Institutional investors own 76.21% of the company’s stock.
Iron Mountain Stock Performance
Shares of IRM stock opened at $61.07 on Thursday. The business’s 50-day moving average price is $59.14 and its 200-day moving average price is $55.52. Iron Mountain Incorporated has a 12 month low of $43.33 and a 12 month high of $62.88. The firm has a market capitalization of $17.82 billion, a price-to-earnings ratio of 46.98, a PEG ratio of 3.89 and a beta of 0.93. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 26.77.
Iron Mountain Increases Dividend
Wall Street Analyst Weigh In
A number of research analysts have issued reports on IRM shares. StockNews.com started coverage on Iron Mountain in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Royal Bank of Canada upgraded 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. Finally, Barclays lifted their target price on Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.75.
Read Our Latest Stock Analysis on IRM
Insider Activity
In other news, CFO Barry Hytinen sold 18,500 shares of Iron Mountain stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $56.23, for a total transaction of $1,040,255.00. Following the sale, the chief financial officer now directly owns 80,197 shares of the company’s stock, valued at $4,509,477.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $60.22, for a total value of $632,731.54. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $17,804,043. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Barry Hytinen sold 18,500 shares of Iron Mountain stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $56.23, for a total value of $1,040,255.00. Following the completion of the transaction, the chief financial officer now directly owns 80,197 shares in the company, valued at $4,509,477.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,208 shares of company stock valued at $7,670,320. 2.20% of the stock is currently owned by corporate insiders.
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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