EWG Elevate Inc. Sells 12,175 Shares of Iron Mountain Incorporated (NYSE:IRM)

EWG Elevate Inc. cut its position in shares of Iron Mountain Incorporated (NYSE:IRMFree Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,732 shares of the financial services provider’s stock after selling 12,175 shares during the quarter. Iron Mountain accounts for about 2.3% of EWG Elevate Inc.’s portfolio, making the stock its 11th biggest holding. EWG Elevate Inc.’s holdings in Iron Mountain were worth $5,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC boosted its position in Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Iron Mountain by 17.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 171 shares during the last quarter. Federated Hermes Inc. boosted its position in Iron Mountain by 4.0% during the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 179 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Iron Mountain by 48.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 201 shares during the last quarter. Finally, Bank of New Hampshire boosted its position in Iron Mountain by 38.3% during the fourth quarter. Bank of New Hampshire now owns 795 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 220 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $0.13 during midday trading on Thursday, reaching $88.83. The company’s stock had a trading volume of 2,314,661 shares, compared to its average volume of 1,435,396. Iron Mountain Incorporated has a 12-month low of $53.74 and a 12-month high of $89.91. The firm has a 50 day moving average price of $80.34 and a 200-day moving average price of $74.86. The stock has a market capitalization of $26.04 billion, a P/E ratio of 134.59, a PEG ratio of 5.25 and a beta of 0.95. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.93%. Iron Mountain’s payout ratio is 393.95%.

Insider Activity at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the transaction, the executive vice president now owns 65,286 shares in the company, valued at $5,123,645.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Wendy J. Murdock sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the transaction, the director now directly owns 24,491 shares of the company’s stock, valued at $1,845,396.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the completion of the transaction, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,227 shares of company stock worth $5,125,392. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IRM shares. Barclays raised their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Wells Fargo & Company raised their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Check Out Our Latest Research Report on IRM

About Iron Mountain

(Free Report)

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.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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