American International Group Inc. Lowers Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

American International Group Inc. lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 79,577 shares of the financial services provider’s stock after selling 234 shares during the period. American International Group Inc.’s holdings in Iron Mountain were worth $5,569,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cohen & Steers Inc. raised its stake in Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares during the period. Norges Bank purchased a new position in shares of Iron Mountain in the fourth quarter worth $228,391,000. Wellington Management Group LLP boosted its position in shares of Iron Mountain by 315.2% during the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after acquiring an additional 2,286,711 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after acquiring an additional 1,546,592 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Iron Mountain by 214.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after acquiring an additional 1,178,754 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

NYSE IRM opened at $88.86 on Friday. The business’s 50 day moving average price is $80.84 and its 200-day moving average price is $75.12. Iron Mountain Incorporated has a fifty-two week low of $53.74 and a fifty-two week high of $89.91. The company has a market cap of $26.05 billion, a P/E ratio of 134.64, a P/E/G ratio of 5.25 and a beta of 0.95. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio is currently 393.95%.

Analyst Ratings Changes

IRM has been the topic of several research reports. Wells Fargo & Company lifted their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Barclays lifted their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of the business’s 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 sale, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,227 shares of company stock worth $5,125,392. 2.10% of the stock is currently owned by insiders.

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.