SJS Investment Consulting Inc. Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

SJS Investment Consulting Inc. cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,600 shares of the financial services provider’s stock after selling 169 shares during the period. SJS Investment Consulting Inc.’s holdings in Iron Mountain were worth $168,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IRM. Geode Capital Management LLC lifted its position in Iron Mountain by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Iron Mountain by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after buying an additional 141,675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its holdings in Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after acquiring an additional 402,625 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IRM shares. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Barclays dropped their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note 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 data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Stock Down 0.1 %

IRM opened at $111.17 on Friday. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24. The firm has a 50-day simple moving average of $110.88 and a two-hundred day simple moving average of $112.24. The company has a market capitalization of $32.62 billion, a PE ratio of 308.81, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.