Principal Financial Group Inc. increased its stake in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 3.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 373,577 shares of the financial services provider’s stock after acquiring an additional 14,155 shares during the quarter. Principal Financial Group Inc.’s holdings in Iron Mountain were worth $18,189,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. acquired a new position in shares of Iron Mountain in the 1st quarter worth $28,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Iron Mountain in the 1st quarter worth $28,000. Trust Co. of Vermont acquired a new position in shares of Iron Mountain in the 2nd quarter worth $25,000. Lindbrook Capital LLC grew its holdings in shares of Iron Mountain by 63.1% during the second quarter. Lindbrook Capital LLC now owns 597 shares of the financial services provider’s stock valued at $29,000 after buying an additional 231 shares in the last quarter. Finally, Tcwp LLC purchased a new position in shares of Iron Mountain during the first quarter valued at $36,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Iron Mountain
In other Iron Mountain news, CEO William L. Meaney sold 10,509 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $46.20, for a total value of $485,515.80. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $13,659,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $53.82, for a total value of $60,547.50. Following the completion of the sale, the executive vice president now owns 50,282 shares of the company’s stock, valued at $2,706,177.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 10,509 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $46.20, for a total value of $485,515.80. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $13,659,030. The disclosure for this sale can be found here. Insiders have sold 24,391 shares of company stock worth $1,202,948 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Iron Mountain Stock Performance
Shares of NYSE IRM opened at $52.96 on Wednesday. The business’s 50-day moving average price is $48.82 and its two-hundred day moving average price is $50.14. The company has a debt-to-equity ratio of 19.16, a current ratio of 0.90 and a quick ratio of 0.90. Iron Mountain Incorporated has a one year low of $41.67 and a one year high of $58.61. The company has a market capitalization of $15.40 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 3.66 and a beta of 0.84.
Iron Mountain Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th will be paid a $0.618 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.47 dividend on an annualized basis and a yield of 4.67%. Iron Mountain’s dividend payout ratio (DPR) is currently 146.15%.
Iron Mountain Company Profile
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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