Creative Planning Sells 2,163 Shares of Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Oct 14th, 2023

Creative Planning lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,389 shares of the financial services provider’s stock after selling 2,163 shares during the quarter. Creative Planning’s holdings in Iron Mountain were worth $1,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IRM. Acadian Asset Management LLC raised its position in shares of Iron Mountain by 15.1% during the first quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 328 shares during the last quarter. Panagora Asset Management Inc. grew its stake 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 purchasing an additional 7,719 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Iron Mountain by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock worth $2,147,000 after purchasing an additional 2,399 shares during the period. APG Asset Management N.V. grew its stake in shares of Iron Mountain by 13.0% during the first quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock worth $907,000 after purchasing an additional 2,100 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of Iron Mountain by 52.8% during the first quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 2,608 shares during the period. Institutional investors own 76.94% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 41,859 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $62.97, for a total transaction of $2,635,861.23. Following the completion of the transaction, the chief operating officer now directly owns 20,455 shares of the company’s stock, valued at $1,288,051.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO John Tomovcsik sold 41,859 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $62.97, for a total transaction of $2,635,861.23. Following the completion of the transaction, the chief operating officer now directly owns 20,455 shares of the company’s stock, valued at $1,288,051.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $57.68, for a total value of $115,360.00. Following the transaction, the executive vice president now directly owns 56,026 shares of the company’s stock, valued at $3,231,579.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,380 shares of company stock valued at $5,468,510. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IRM. Barclays lifted their price objective on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. StockNews.com began coverage on Iron Mountain in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised Iron Mountain from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.75.

Get Our Latest Report on Iron Mountain

Iron Mountain Stock Down 0.3 %

NYSE:IRM opened at $60.30 on Friday. Iron Mountain Incorporated has a 1 year low of $44.11 and a 1 year high of $64.48. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 26.77. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 3.98 and a beta of 0.93. The stock has a 50-day moving average price of $61.06 and a two-hundred day moving average price of $57.80.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.31%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, September 14th. Iron Mountain’s payout ratio is presently 200.00%.

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.