Mutual of America Capital Management LLC Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

Mutual of America Capital Management LLC lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.3% during the 3rd quarter, Holdings Channel reports. The firm owned 36,120 shares of the financial services provider’s stock after selling 850 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Iron Mountain were worth $4,292,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IRM. Legal & General Group Plc increased its stake in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. AGF Management Ltd. increased its stake in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the last quarter. Mizuho Securities USA LLC raised its position in Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after purchasing an additional 495,898 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after purchasing an additional 445,207 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in shares of Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after purchasing an additional 402,625 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 2.4 %

Shares of NYSE:IRM opened at $119.14 on Friday. The business’s 50 day moving average is $119.82 and its 200 day moving average is $104.00. The stock has a market cap of $34.96 billion, a P/E ratio of 330.94, a price-to-earnings-growth ratio of 6.98 and a beta of 0.99. Iron Mountain Incorporated has a 52-week low of $62.58 and a 52-week high of $130.24. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays cut their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $129.40.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.