Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,761 shares of the financial services provider’s stock after selling 2,307 shares during the period. Moors & Cabot Inc.’s holdings in Iron Mountain were worth $7,933,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IRM. Retireful LLC acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $700,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $936,000. Advisors Asset Management Inc. grew its holdings in shares of Iron Mountain by 21.0% in the third quarter. Advisors Asset Management Inc. now owns 63,376 shares of the financial services provider’s stock valued at $7,531,000 after purchasing an additional 10,984 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $844,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $1,427,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays reduced their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $129.40.

Insider Buying and Selling at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Performance

IRM stock traded down $1.56 on Wednesday, hitting $114.95. The company’s stock had a trading volume of 37,840 shares, compared to its average volume of 1,594,952. The firm has a 50 day moving average of $119.72 and a two-hundred day moving average of $103.81. Iron Mountain Incorporated has a 1 year low of $62.56 and a 1 year high of $130.24. The stock has a market cap of $33.73 billion, a price-to-earnings ratio of 323.61, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.49%. Iron Mountain’s dividend payout ratio is currently 794.44%.

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.