BTC Capital Management Inc. Trims Stock Position in Iron Mountain Incorporated (NYSE:IRM)

BTC Capital Management Inc. lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 36.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,353 shares of the financial services provider’s stock after selling 3,101 shares during the quarter. BTC Capital Management Inc.’s holdings in Iron Mountain were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Simplicity Solutions LLC increased its holdings in Iron Mountain by 16.6% in the 1st quarter. Simplicity Solutions LLC now owns 22,081 shares of the financial services provider’s stock worth $1,168,000 after acquiring an additional 3,140 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Iron Mountain by 20.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,413 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 584 shares in the last quarter. Flputnam Investment Management Co. purchased a new stake in Iron Mountain in the 1st quarter worth approximately $238,000. Securian Asset Management Inc. increased its holdings in Iron Mountain by 0.9% in the 1st quarter. Securian Asset Management Inc. now owns 24,331 shares of the financial services provider’s stock worth $1,287,000 after acquiring an additional 221 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Iron Mountain by 39.7% in the 1st quarter. Citigroup Inc. now owns 354,664 shares of the financial services provider’s stock worth $18,765,000 after acquiring an additional 100,699 shares in the last quarter. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Insider Buying and Selling

In related news, EVP Deborah Marson sold 2,381 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $59.21, for a total value of $140,979.01. Following the completion of the sale, the executive vice president now directly owns 62,026 shares in the company, valued at $3,672,559.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction on Monday, August 14th. The stock was sold at an average price of $60.22, for a total transaction of $632,731.54. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $17,804,043. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah Marson sold 2,381 shares of Iron Mountain stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $59.21, for a total value of $140,979.01. Following the sale, the executive vice president now owns 62,026 shares of the company’s stock, valued at $3,672,559.46. The disclosure for this sale can be found here. Insiders sold a total of 37,395 shares of company stock worth $2,256,112 over the last three months. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IRM shares. StockNews.com started coverage on Iron Mountain in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. Finally, Barclays upped their price target on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.75.

Iron Mountain Stock Up 0.4 %

NYSE IRM opened at $63.10 on Tuesday. The company has a debt-to-equity ratio of 26.77, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $18.42 billion, a P/E ratio of 48.54, a P/E/G ratio of 4.18 and a beta of 0.92. Iron Mountain Incorporated has a one year low of $43.33 and a one year high of $64.37. The stock has a 50 day moving average price of $61.47 and a 200-day moving average price of $56.81.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a $0.65 dividend. The ex-dividend date is Thursday, September 14th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 4.12%. Iron Mountain’s dividend payout ratio (DPR) is currently 200.00%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.