Assenagon Asset Management S.A. Sells 222 Shares of Iron Mountain Incorporated (NYSE:IRM)

Assenagon Asset Management S.A. reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,150 shares of the financial services provider’s stock after selling 222 shares during the period. Assenagon Asset Management S.A.’s holdings in Iron Mountain were worth $1,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Iron Mountain by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after buying an additional 128,622 shares during the last quarter. Legal & General Group Plc raised its position in shares of Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Iron Mountain by 4.4% in 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 purchasing an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 purchasing an additional 2,672,821 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in Iron Mountain by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after purchasing an additional 402,625 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last three months, insiders sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is owned by insiders.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $111.17 on Friday. The company has a 50-day moving average price of $110.88 and a 200-day moving average price of $112.24. The stock has a market capitalization of $32.62 billion, a P/E ratio of 308.81, a P/E/G ratio of 6.05 and a beta of 1.02. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Analyst Ratings Changes

IRM has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays dropped their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $131.00.

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.