Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 12.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,810 shares of the financial services provider’s stock after selling 2,900 shares during the period. Fifth Third Bancorp’s holdings in Iron Mountain were worth $2,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRM. Exchange Traded Concepts LLC lifted its holdings in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,511 shares during the last quarter. Secure Asset Management LLC lifted its stake in Iron Mountain by 2.4% during the fourth quarter. Secure Asset Management LLC now owns 5,358 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 127 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in Iron Mountain by 17.4% in the fourth quarter. Wesbanco Bank Inc. now owns 2,329 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 345 shares during the period. Janney Montgomery Scott LLC increased its stake in Iron Mountain by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 92,363 shares of the financial services provider’s stock valued at $9,708,000 after purchasing an additional 4,350 shares during the last quarter. Finally, Aspire Private Capital LLC raised its holdings in shares of Iron Mountain by 2.7% during the fourth quarter. Aspire Private Capital LLC now owns 9,638 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 255 shares during the period. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays lowered their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $103.84 on Tuesday. Iron Mountain Incorporated has a 1-year low of $66.20 and a 1-year high of $130.24. The company has a market capitalization of $30.47 billion, a P/E ratio of 288.44, a PEG ratio of 6.05 and a beta of 1.02. The business’s fifty day moving average price is $110.65 and its two-hundred day moving average price is $112.56.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.75%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Company 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.