JPMorgan Chase & Co. Sells 266,277 Shares of Iron Mountain Incorporated (NYSE:IRM)

JPMorgan Chase & Co. cut its stake in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,917,283 shares of the financial services provider’s stock after selling 266,277 shares during the quarter. JPMorgan Chase & Co.’s holdings in Iron Mountain were worth $93,354,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. State Street Corp grew its position in shares of Iron Mountain by 1.8% in the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock valued at $819,026,000 after purchasing an additional 261,765 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Iron Mountain by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,566,592 shares of the financial services provider’s stock worth $197,625,000 after buying an additional 103,470 shares in the last quarter. Pictet Asset Management SA grew its position in Iron Mountain by 67.9% during the second quarter. Pictet Asset Management SA now owns 2,866,745 shares of the financial services provider’s stock worth $139,582,000 after buying an additional 1,159,261 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Iron Mountain by 32.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,818,456 shares of the financial services provider’s stock worth $88,541,000 after buying an additional 449,724 shares in the last quarter. Finally, Swiss National Bank grew its position in Iron Mountain by 14.0% during the first quarter. Swiss National Bank now owns 1,254,147 shares of the financial services provider’s stock worth $69,492,000 after buying an additional 154,300 shares in the last quarter. 76.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on IRM. Evercore ISI reduced their target price on Iron Mountain to $60.00 in a research report on Tuesday, November 15th. StockNews.com assumed coverage on Iron Mountain in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Iron Mountain Stock Up 0.7 %

IRM stock opened at $52.96 on Wednesday. Iron Mountain Incorporated has a fifty-two week low of $41.67 and a fifty-two week high of $58.61. 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 quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 3.66 and a beta of 0.84.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Investors 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 annualized dividend and a dividend yield of 4.67%. Iron Mountain’s payout ratio is currently 146.15%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 10,509 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $46.20, for a total value of $485,515.80. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $13,659,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO William L. Meaney sold 10,509 shares of the company’s stock in a transaction that occurred on 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 directly owns 295,650 shares of the company’s stock, valued at approximately $13,659,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah Marson sold 1,125 shares of the company’s stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $47.50, for a total value of $53,437.50. Following the completion of the transaction, the executive vice president now directly owns 49,157 shares in the company, valued at $2,334,957.50. The disclosure for this sale can be found here. Insiders have sold 24,391 shares of company stock worth $1,202,948 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRMGet Rating).

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

Receive News & Ratings for Iron Mountain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain and related companies with MarketBeat.com's FREE daily email newsletter.