Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,435 shares of the financial services provider’s stock after selling 1,654 shares during the quarter. Kentucky Retirement Systems’ holdings in Iron Mountain were worth $2,428,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the 2nd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the 2nd quarter worth approximately $36,000. Finally, Family Firm Inc. purchased a new stake in shares of Iron Mountain during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $114.88 on Monday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 12-month low of $61.59 and a 12-month high of $130.24. The business’s fifty day moving average price is $119.57 and its 200 day moving average price is $103.24. The stock has a market capitalization of $33.71 billion, a PE ratio of 319.12, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Analyst Ratings Changes

Several brokerages have recently weighed in on IRM. Barclays upped their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $129.80.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,387 shares of company stock valued at $6,861,838 over the last quarter. Insiders own 2.10% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.