Iron Mountain Incorporated (NYSE:IRM) Stock Position Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,027 shares of the financial services provider’s stock after purchasing an additional 637 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Iron Mountain worth $13,637,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Cohen & Steers Inc. grew its stake in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after purchasing an additional 15,035,937 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Iron Mountain by 0.7% in the third quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after buying an additional 29,683 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Iron Mountain by 60.9% in 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 buying an additional 1,546,592 shares during the period. Norges Bank acquired a new stake in shares of Iron Mountain in the fourth quarter valued at $228,391,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after buying an additional 81,741 shares during the period. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. The Goldman Sachs Group upped their price objective on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $78.33.

Iron Mountain Trading Up 1.0 %

Shares of NYSE IRM opened at $91.74 on Thursday. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $92.72. The company has a market cap of $26.89 billion, a price-to-earnings ratio of 139.00, a P/E/G ratio of 5.38 and a beta of 0.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The business has a fifty day simple moving average of $83.09 and a 200-day simple moving average of $76.46.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio is 393.95%.

Insider Buying and Selling

In related news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Friday, April 5th. The stock was 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 directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,053 shares of company stock valued at $8,429,641. Corporate 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.