Park Avenue Securities LLC Trims Holdings in Iron Mountain Incorporated (NYSE:IRM)

Park Avenue Securities LLC cut its stake in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,865 shares of the financial services provider’s stock after selling 581 shares during the quarter. Park Avenue Securities LLC’s holdings in Iron Mountain were worth $434,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. 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. Royal Bank of Canada lifted its stake in Iron Mountain by 97.1% during the first quarter. Royal Bank of Canada now owns 1,069,486 shares of the financial services provider’s stock worth $59,260,000 after purchasing an additional 526,994 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Iron Mountain by 64.6% during the second quarter. CIBC Private Wealth Group LLC now owns 1,210,728 shares of the financial services provider’s stock worth $58,950,000 after purchasing an additional 475,137 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake 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 purchasing an additional 449,724 shares during the last quarter. Finally, National Pension Service lifted its stake in Iron Mountain by 522.8% during the first quarter. National Pension Service now owns 518,482 shares of the financial services provider’s stock worth $28,729,000 after purchasing an additional 435,237 shares during the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In related news, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $50.18, for a total transaction of $56,452.50. Following the transaction, the executive vice president now owns 48,032 shares in the company, valued at approximately $2,410,245.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $50.18, for a total transaction of $56,452.50. Following the transaction, the executive vice president now owns 48,032 shares in the company, valued at approximately $2,410,245.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $51.76, for a total value of $543,842.32. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $15,302,844. The disclosure for this sale can be found here. Insiders have sold a total of 34,896 shares of company stock worth $1,798,205 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.4 %

NYSE IRM opened at $51.82 on Friday. Iron Mountain Incorporated has a 1-year low of $41.67 and a 1-year high of $58.61. The firm has a market cap of $15.06 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 3.45 and a beta of 0.86. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 19.16. The stock has a 50-day moving average of $52.21 and a 200-day moving average of $50.61.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 15th were issued a dividend of $0.618 per share. The ex-dividend date was Wednesday, December 14th. This represents a $2.47 dividend on an annualized basis and a yield of 4.77%. Iron Mountain’s dividend payout ratio is presently 146.15%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IRM shares. Royal Bank of Canada started coverage on Iron Mountain in a research note on Friday, December 16th. They set a “sector perform” rating and a $58.00 price target for the company. StockNews.com started coverage on Iron Mountain in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Evercore ISI dropped their price target on Iron Mountain to $60.00 in a research note on Tuesday, November 15th. BNP Paribas assumed coverage on Iron Mountain in a research note on Wednesday, December 14th. They issued an “outperform” rating and a $66.00 target price for the company. Finally, Exane BNP Paribas assumed coverage on Iron Mountain in a research note on Wednesday, December 14th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Hold” and an average price target of $54.00.

Iron Mountain 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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