Victory Capital Management Inc. Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Victory Capital Management Inc. lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 103,910 shares of the financial services provider’s stock after selling 3,558 shares during the period. Victory Capital Management Inc.’s holdings in Iron Mountain were worth $12,348,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Friedenthal Financial purchased a new stake in Iron Mountain in the 3rd quarter worth $824,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Iron Mountain by 22.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after purchasing an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 12,540 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Iron Mountain by 13.2% during the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after purchasing an additional 11,454 shares during the last quarter. Finally, Goldstone Financial Group LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at about $540,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IRM. Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lowered their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $129.40.

Iron Mountain Price Performance

NYSE IRM opened at $116.30 on Thursday. Iron Mountain Incorporated has a 12-month low of $62.56 and a 12-month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm’s fifty day simple moving average is $119.76 and its two-hundred day simple moving average is $103.89. The firm has a market capitalization of $34.13 billion, a P/E ratio of 323.06, a P/E/G ratio of 6.88 and a beta of 0.99.

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 issued a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.46%. Iron Mountain’s payout ratio is 794.44%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,125 shares of company stock valued at $6,613,584. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain 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.