Cohen & Steers Inc. Has $1.57 Billion Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Cohen & Steers Inc. boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRMFree Report) by 202.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,475,614 shares of the financial services provider’s stock after buying an additional 15,035,937 shares during the period. Iron Mountain makes up approximately 3.2% of Cohen & Steers Inc.’s holdings, making the stock its 11th biggest holding. Cohen & Steers Inc. owned about 0.08% of Iron Mountain worth $1,572,936,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IRM. Pathstone Family Office LLC raised its holdings in shares of Iron Mountain by 72.1% in the third quarter. Pathstone Family Office LLC now owns 23,200 shares of the financial services provider’s stock valued at $1,387,000 after purchasing an additional 9,719 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Iron Mountain by 140.6% in the third quarter. HighTower Advisors LLC now owns 159,030 shares of the financial services provider’s stock valued at $9,451,000 after purchasing an additional 92,924 shares during the last quarter. UBS Group AG raised its holdings in shares of Iron Mountain by 3.5% in the third quarter. UBS Group AG now owns 892,448 shares of the financial services provider’s stock valued at $53,056,000 after purchasing an additional 30,140 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Iron Mountain by 15.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,682 shares of the financial services provider’s stock valued at $3,489,000 after buying an additional 7,822 shares in the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after buying an additional 419 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IRM. Wells Fargo & Company raised their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Barclays raised their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $73.80.

Check Out Our Latest Research Report on Iron Mountain

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the completion of the transaction, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $78.48, for a total value of $156,960.00. Following the completion of the sale, the executive vice president now owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the sale, the director now directly owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. Insiders sold a total of 46,209 shares of company stock valued at $3,639,643 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

IRM stock remained flat at $87.33 during midday trading on Wednesday. 2,657,313 shares of the company’s stock were exchanged, compared to its average volume of 1,417,506. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $79.16 and its 200-day simple moving average is $73.92. Iron Mountain Incorporated has a 1 year low of $53.74 and a 1 year high of $89.91. The firm has a market capitalization of $25.60 billion, a price-to-earnings ratio of 133.18, a price-to-earnings-growth ratio of 5.21 and a beta of 0.95.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.98%. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

Iron Mountain Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRMFree Report).

Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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