ProShare Advisors LLC Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

ProShare Advisors LLC decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,760 shares of the financial services provider’s stock after selling 842 shares during the period. ProShare Advisors LLC’s holdings in Iron Mountain were worth $3,911,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cohen & Steers Inc. raised its stake in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after buying an additional 475,849 shares in the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain during the 4th quarter valued at about $228,391,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after acquiring an additional 81,741 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Iron Mountain by 59.1% during the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock worth $145,879,000 after acquiring an additional 772,988 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the company’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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wendy J. Murdock sold 1,500 shares of Iron Mountain stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total transaction of $113,025.00. Following the sale, the director now directly owns 24,491 shares of the company’s stock, valued at approximately $1,845,396.85. The disclosure for this sale can be found here. Insiders have sold 100,553 shares of company stock valued at $8,759,378 in the last quarter. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Down 1.4 %

Shares of NYSE:IRM opened at $97.84 on Friday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $87.03 and a two-hundred day simple moving average of $78.41. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $100.78. The firm has a market capitalization of $28.68 billion, a PE ratio of 148.24, a price-to-earnings-growth ratio of 5.88 and a beta of 0.98.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, June 17th. Iron Mountain’s payout ratio is currently 393.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IRM shares. The Goldman Sachs Group raised their price objective on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Stifel Nicolaus raised their price target on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.83.

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.