Russell Investments Group Ltd. lowered its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 24.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,643 shares of the financial services provider’s stock after selling 12,803 shares during the quarter. Russell Investments Group Ltd.’s holdings in Iron Mountain were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in IRM. Piedmont Investment Advisors LLC bought a new position in Iron Mountain in the 2nd quarter worth $115,000. Qube Research & Technologies Ltd raised its holdings in Iron Mountain by 775.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 5,772 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 5,113 shares during the period. Chemical Bank bought a new position in Iron Mountain in the 2nd quarter worth $207,000. Clinton Group Inc. bought a new position in Iron Mountain in the 3rd quarter worth $233,000. Finally, Creative Planning bought a new position in Iron Mountain in the 3rd quarter worth $238,000. Institutional investors and hedge funds own 88.17% of the company’s stock.
NYSE:IRM opened at $34.05 on Friday. Iron Mountain Inc has a 52-week low of $30.22 and a 52-week high of $40.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.18. The stock has a market cap of $9.84 billion, a PE ratio of 16.15, a P/E/G ratio of 2.87 and a beta of 0.77.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Monday, December 17th will be given a dividend of $0.611 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a dividend yield of 7.18%. The ex-dividend date is Friday, December 14th. Iron Mountain’s payout ratio is 110.33%.
Several research firms have recently issued reports on IRM. Stifel Nicolaus downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $34.00 in a report on Friday, October 26th. Barclays dropped their price objective on shares of Iron Mountain from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 30th. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, November 19th. Bank of America began coverage on shares of Iron Mountain in a report on Tuesday, November 20th. They set a “neutral” rating and a $34.00 price objective on the stock. Finally, Berenberg Bank began coverage on shares of Iron Mountain in a report on Thursday, September 20th. They set a “buy” rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $37.00.
Iron Mountain Company Profile
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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