Cetera Advisors LLC Lowers Stake in Iron Mountain Incorporated (NYSE:IRM)

Cetera Advisors LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,182 shares of the financial services provider’s stock after selling 2,060 shares during the quarter. Cetera Advisors LLC’s holdings in Iron Mountain were worth $3,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IRM. Acadian Asset Management LLC raised its position in Iron Mountain by 15.1% in the 1st quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 328 shares during the period. Panagora Asset Management Inc. grew its holdings in Iron Mountain by 71.3% in the 1st quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock worth $1,028,000 after acquiring an additional 7,719 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Iron Mountain by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock worth $2,147,000 after acquiring an additional 2,399 shares during the last quarter. APG Asset Management N.V. grew its holdings in Iron Mountain by 13.0% in the 1st quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock worth $907,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Iron Mountain by 52.8% in the 1st quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 2,608 shares during the last quarter. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Iron Mountain from $64.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. UBS Group started coverage on shares of Iron Mountain in a research note on Tuesday, November 7th. They set a “sell” rating and a $44.00 target price on the stock. StockNews.com started coverage on shares of Iron Mountain in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.75.

Insider Activity

In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $57.68, for a total transaction of $115,360.00. Following the completion of the transaction, the executive vice president now directly owns 56,026 shares of the company’s stock, valued at $3,231,579.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $57.68, for a total transaction of $115,360.00. Following the completion of the sale, the executive vice president now directly owns 56,026 shares in the company, valued at $3,231,579.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 10,507 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $59.08, for a total transaction of $620,753.56. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $17,467,002. The disclosure for this sale can be found here. Insiders sold 66,873 shares of company stock valued at $4,098,639 over the last three months. Insiders own 2.20% of the company’s stock.

Iron Mountain Stock Up 0.3 %

Shares of Iron Mountain stock opened at $62.23 on Friday. The company has a debt-to-equity ratio of 43.97, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $60.35 and a two-hundred day simple moving average of $58.98. Iron Mountain Incorporated has a 52-week low of $48.92 and a 52-week high of $64.48. The stock has a market capitalization of $18.17 billion, a PE ratio of 65.51, a price-to-earnings-growth ratio of 3.93 and a beta of 0.90.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.60 annualized dividend and a dividend yield of 4.18%. Iron Mountain’s payout ratio is 273.69%.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.