Profund Advisors LLC Sells 1,008 Shares of Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Sep 8th, 2023

Profund Advisors LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 18.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,575 shares of the financial services provider’s stock after selling 1,008 shares during the quarter. Profund Advisors LLC’s holdings in Iron Mountain were worth $242,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRM. Acadian Asset Management LLC raised its holdings in shares of Iron Mountain by 15.1% in the first quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock valued at $137,000 after buying an additional 328 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Iron Mountain by 71.3% in the first quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 7,719 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Iron Mountain by 6.6% in the first 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. raised its holdings in shares of Iron Mountain by 13.0% in the first quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock valued at $907,000 after buying an additional 2,100 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Iron Mountain by 52.8% in the first quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock valued at $419,000 after buying an additional 2,608 shares during the last quarter. 76.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IRM has been the subject of several recent research reports. Royal Bank of Canada raised Iron Mountain from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $58.00 to $68.00 in a report on Monday, August 21st. StockNews.com began coverage on Iron Mountain in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Barclays boosted their price objective 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.75.

View Our Latest Stock Report on Iron Mountain

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $56.23, for a total value of $112,460.00. Following the sale, the executive vice president now owns 62,026 shares in the company, valued at approximately $3,487,721.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $56.23, for a total value of $112,460.00. Following the transaction, the executive vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,487,721.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $59.45, for a total value of $624,641.15. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $17,576,392.50. The disclosure for this sale can be found here. Insiders have sold a total of 57,895 shares of company stock worth $3,408,827 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Trading Down 0.6 %

NYSE IRM opened at $63.65 on Friday. Iron Mountain Incorporated has a 52 week low of $43.33 and a 52 week high of $64.37. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 4.21 and a beta of 0.92. The company has a debt-to-equity ratio of 26.77, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50 day moving average price is $60.72 and its two-hundred day moving average price is $56.21.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid 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 dividend yield of 4.08%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio is currently 190.00%.

Iron Mountain Profile

(Free Report)

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.