Edgestream Partners L.P. Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Edgestream Partners L.P. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 58.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,718 shares of the financial services provider’s stock after selling 32,961 shares during the quarter. Edgestream Partners L.P.’s holdings in Iron Mountain were worth $2,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. OneDigital Investment Advisors LLC increased its position in shares of Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 89 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. increased its position in shares of Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. Claro Advisors LLC increased its position in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after acquiring an additional 103 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Iron Mountain by 2.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 107 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $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 three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $123.67 on Monday. Iron Mountain Incorporated has a one year low of $62.95 and a one year high of $130.24. The business has a fifty day moving average price of $120.59 and a 200-day moving average price of $106.02. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $36.29 billion, a P/E ratio of 343.53, a PEG ratio of 7.44 and a beta of 0.99.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is currently 794.44%.

Wall Street Analyst Weigh In

IRM has been the subject of a number of research analyst reports. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays reduced their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Royal Bank of Canada increased their price objective 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 increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $131.00.

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.