Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 137,192 shares of the financial services provider’s stock after selling 1,192 shares during the period. Snowden Capital Advisors LLC’s holdings in Iron Mountain were worth $7,259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRM. First Trust Advisors LP increased its stake in shares of Iron Mountain by 27.7% in the first quarter. First Trust Advisors LP now owns 293,903 shares of the financial services provider’s stock worth $15,550,000 after buying an additional 63,715 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Iron Mountain by 12.1% in the first quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock worth $411,015,000 after buying an additional 837,623 shares during the last quarter. HBK Sorce Advisory LLC bought a new stake in Iron Mountain during the first quarter valued at $408,000. AQR Capital Management LLC increased its stake in Iron Mountain by 17.0% during the first quarter. AQR Capital Management LLC now owns 31,516 shares of the financial services provider’s stock valued at $1,646,000 after purchasing an additional 4,574 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Iron Mountain during the first quarter valued at $312,000. 76.94% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM traded down $0.27 during midday trading on Tuesday, hitting $62.74. 628,612 shares of the stock traded hands, compared to its average volume of 1,393,246. Iron Mountain Incorporated has a 1-year low of $43.33 and a 1-year high of $64.37. The firm has a market capitalization of $18.31 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. The company has a debt-to-equity ratio of 26.77, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50 day moving average price is $60.96 and its two-hundred day moving average price is $56.43.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.60 annualized dividend and a yield of 4.14%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio is presently 200.00%.

Insider Buying and Selling

In related news, CFO Barry Hytinen sold 18,500 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $56.23, for a total value of $1,040,255.00. Following the completion of the sale, the chief financial officer now owns 80,197 shares of the company’s stock, valued at $4,509,477.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Barry Hytinen sold 18,500 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $56.23, for a total value of $1,040,255.00. Following the completion of the sale, the chief financial officer now owns 80,197 shares of the company’s stock, valued at $4,509,477.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $59.45, for a total transaction of $624,641.15. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $17,576,392.50. The disclosure for this sale can be found here. Insiders sold 57,895 shares of company stock valued at $3,408,827 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IRM shares. StockNews.com started coverage on shares of Iron Mountain in a research note on Thursday, August 17th. They set a “hold” rating for the company. Barclays boosted their price target on shares of Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Finally, Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $58.00 to $68.00 in a report on Monday, August 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.75.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.