Robeco Institutional Asset Management B.V. Sells 28,926 Shares of Iron Mountain Incorporated (NYSE:IRM)

Robeco Institutional Asset Management B.V. cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 38.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,489 shares of the financial services provider’s stock after selling 28,926 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Iron Mountain were worth $5,524,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in Iron Mountain by 196.5% during the first quarter. Geneos Wealth Management Inc. now owns 4,681 shares of the financial services provider’s stock worth $375,000 after acquiring an additional 3,102 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Iron Mountain by 69.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,552 shares of the financial services provider’s stock worth $2,050,000 after buying an additional 10,461 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Iron Mountain by 352.4% during the first quarter. SG Americas Securities LLC now owns 139,565 shares of the financial services provider’s stock valued at $11,195,000 after purchasing an additional 108,712 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Iron Mountain during the first quarter valued at approximately $4,819,000. Finally, Atomi Financial Group Inc. purchased a new stake in Iron Mountain in the first quarter worth approximately $224,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of IRM opened at $119.71 on Friday. Iron Mountain Incorporated has a 52 week low of $58.55 and a 52 week high of $130.24. The company has a quick ratio of 0.79, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market cap of $35.12 billion, a price-to-earnings ratio of 332.54, a PEG ratio of 6.86 and a beta of 0.99. The business has a 50-day simple moving average of $119.20 and a two-hundred day simple moving average of $101.58.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,637 shares of company stock valued at $3,210,575 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays boosted their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $129.80.

About Iron Mountain

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.