Quantbot Technologies LP Sells 59,966 Shares of Iron Mountain Incorporated (NYSE:IRM)

Quantbot Technologies LP lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 92.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,987 shares of the financial services provider’s stock after selling 59,966 shares during the period. Quantbot Technologies LP’s holdings in Iron Mountain were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in Iron Mountain by 2.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider’s stock worth $24,912,000 after acquiring an additional 4,150 shares during the last quarter. Associated Banc Corp bought a new position in shares of Iron Mountain during the third quarter worth $1,053,000. Horizon Kinetics Asset Management LLC grew its holdings in shares of Iron Mountain by 42.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 34,450 shares of the financial services provider’s stock valued at $4,094,000 after buying an additional 10,350 shares during the period. Loomis Sayles & Co. L P increased its position in shares of Iron Mountain by 3,253.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 872 shares of the financial services provider’s stock valued at $104,000 after buying an additional 846 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in Iron Mountain by 65.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 17,988 shares of the financial services provider’s stock worth $2,137,000 after buying an additional 7,122 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’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 owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Down 1.7 %

Shares of IRM stock opened at $121.59 on Tuesday. The firm’s fifty day moving average price is $120.59 and its two-hundred day moving average price is $106.19. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1 year low of $64.66 and a 1 year high of $130.24. The firm has a market capitalization of $35.68 billion, a P/E ratio of 343.53, a PEG ratio of 7.44 and a beta of 0.99.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.35%. Iron Mountain’s payout ratio is presently 794.44%.

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.