BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,218 Shares of Iron Mountain Incorporated (NYSE:IRM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,913 shares of the financial services provider’s stock after selling 7,218 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Iron Mountain were worth $5,812,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in IRM. Legal & General Group Plc lifted its position in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Iron Mountain by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after buying an additional 141,675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after buying an additional 2,672,821 shares during the last quarter. AGF Management Ltd. boosted its position in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after buying an additional 972,101 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Iron Mountain by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after acquiring an additional 6,562 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Price Performance

Shares of IRM stock opened at $121.59 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market cap of $35.68 billion, a price-to-earnings ratio of 337.75, a PEG ratio of 7.44 and a beta of 0.99. The business’s fifty day moving average is $120.59 and its 200 day moving average is $106.19. Iron Mountain Incorporated has a twelve month low of $64.66 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.35%. Iron Mountain’s payout ratio is 794.44%.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock valued at $6,613,584 in the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Company Profile

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.