Symphony Financial Ltd. Co. Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Symphony Financial Ltd. Co. lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 81.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,566 shares of the financial services provider’s stock after selling 11,445 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Iron Mountain were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Cohen & Steers Inc. boosted its stake in shares of Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Iron Mountain by 0.7% during the 3rd quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock worth $271,778,000 after acquiring an additional 29,683 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares during the last quarter. Norges Bank purchased a new position in shares of Iron Mountain during the 4th quarter worth $228,391,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock worth $220,975,000 after acquiring an additional 81,741 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Daniel Borges sold 3,095 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Edward Baker-Greene sold 6,200 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.35, for a total transaction of $547,770.00. Following the completion of the sale, the executive vice president now owns 11,311 shares in the company, valued at $999,326.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,511 shares of company stock worth $8,787,218. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM traded up $0.41 on Friday, reaching $89.62. The company had a trading volume of 3,284,005 shares, compared to its average volume of 2,524,909. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $26.27 billion, a PE ratio of 135.79, a price-to-earnings-growth ratio of 5.28 and a beta of 0.95. The firm’s 50 day moving average price is $82.25 and its 200 day moving average price is $75.99. Iron Mountain Incorporated has a 12 month low of $55.02 and a 12 month high of $90.40.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.90%. Iron Mountain’s dividend payout ratio is currently 393.95%.

Analyst Upgrades and Downgrades

IRM has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.33.

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.