MetLife Investment Management LLC Sells 2,103 Shares of Iron Mountain Incorporated (NYSE:IRM)

MetLife Investment Management LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,704 shares of the financial services provider’s stock after selling 2,103 shares during the period. MetLife Investment Management LLC’s holdings in Iron Mountain were worth $11,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares during the period. AGF Management Ltd. boosted its holdings in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the period. Mizuho Securities USA LLC grew its position in shares of Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after purchasing an additional 495,898 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after purchasing an additional 402,625 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Iron Mountain stock opened at $124.24 on Friday. Iron Mountain Incorporated has a 1-year low of $62.95 and a 1-year high of $130.24. The firm has a market cap of $36.46 billion, a P/E ratio of 345.11, a P/E/G ratio of 7.26 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a 50-day moving average of $120.22 and a 200-day moving average of $105.40.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.30%. Iron Mountain’s dividend payout ratio is currently 794.44%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays reduced their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average target price of $131.00.

Insider Activity

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. Company insiders own 2.10% of the company’s stock.

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.