Ancora Advisors LLC Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Ancora Advisors LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,464 shares of the financial services provider’s stock after selling 581 shares during the quarter. Ancora Advisors LLC’s holdings in Iron Mountain were worth $1,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors increased its position in shares of Iron Mountain by 3.9% during the first quarter. Captrust Financial Advisors now owns 856,945 shares of the financial services provider’s stock valued at $68,736,000 after acquiring an additional 31,876 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Iron Mountain by 39.5% during the first quarter. Toronto Dominion Bank now owns 166,908 shares of the financial services provider’s stock valued at $13,388,000 after acquiring an additional 47,271 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Iron Mountain by 2.3% during the first quarter. Advisors Asset Management Inc. now owns 53,850 shares of the financial services provider’s stock valued at $4,319,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Shell Asset Management Co. increased its position in shares of Iron Mountain by 23.1% during the first quarter. Shell Asset Management Co. now owns 46,450 shares of the financial services provider’s stock valued at $3,726,000 after acquiring an additional 8,716 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus increased their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company raised their target price on Iron Mountain from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $86.17.

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 2,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,866 shares of the company’s stock, valued at $1,786,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Tomovcsik sold 2,500 shares of Iron Mountain stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the chief operating officer now directly owns 17,866 shares of the company’s stock, valued at approximately $1,786,600. The disclosure for this sale can be found here. Insiders sold 100,553 shares of company stock valued at $8,759,378 over the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $102.50 on Thursday. 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 fifty day simple moving average of $90.31 and a two-hundred day simple moving average of $80.50. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $103.41. The company has a market capitalization of $30.05 billion, a P/E ratio of 155.31, a P/E/G ratio of 6.00 and a beta of 0.98.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a $0.715 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.79%. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

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.