Mirae Asset Global Investments Co. Ltd. Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 65.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 386,004 shares of the financial services provider’s stock after selling 734,955 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Iron Mountain were worth $21,389,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. JPMorgan Chase & Co. boosted its stake in shares of Iron Mountain by 4.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,484,928 shares of the financial services provider’s stock valued at $130,037,000 after buying an additional 103,622 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Iron Mountain by 55.1% in the 4th quarter. Allianz Asset Management GmbH now owns 736,514 shares of the financial services provider’s stock valued at $38,542,000 after buying an additional 261,705 shares during the period. Advisor Resource Council purchased a new position in shares of Iron Mountain in the 4th quarter valued at about $549,000. Ensign Peak Advisors Inc raised its position in shares of Iron Mountain by 231.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 119,878 shares of the financial services provider’s stock worth $6,274,000 after acquiring an additional 83,672 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Iron Mountain by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,463,122 shares of the financial services provider’s stock worth $181,225,000 after acquiring an additional 49,254 shares in the last quarter. Hedge funds and other institutional investors own 76.80% of the company’s stock.

Iron Mountain Trading Up 3.3 %

IRM opened at $55.29 on Friday. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 43.88, a price-to-earnings-growth ratio of 3.73 and a beta of 0.75. Iron Mountain Incorporated has a 52 week low of $41.67 and a 52 week high of $58.61. The business’s 50 day moving average is $51.34 and its two-hundred day moving average is $51.83. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 15.33.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Wednesday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is 196.03%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $53.82, for a total transaction of $60,547.50. Following the transaction, the executive vice president now owns 50,282 shares of the company’s stock, valued at $2,706,177.24. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Greg W. Mcintosh sold 5,800 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $52.95, for a total value of $307,110.00. Following the transaction, the executive vice president now owns 6,355 shares of the company’s stock, valued at $336,497.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $53.82, for a total value of $60,547.50. Following the completion of the transaction, the executive vice president now directly owns 50,282 shares in the company, valued at approximately $2,706,177.24. The disclosure for this sale can be found here. Insiders have sold a total of 9,175 shares of company stock valued at $481,845 over the last quarter. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IRM shares. Evercore ISI raised their target price on Iron Mountain to $63.00 in a research report on Monday, August 22nd. Barclays started coverage on Iron Mountain in a research report on Friday, June 24th. They set an “overweight” rating and a $58.00 target price on the stock. Finally, StockNews.com lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, August 20th.

Iron Mountain Company Profile

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Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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