Pacer Advisors Inc. Sells 959,554 Shares of Iron Mountain Incorporated (NYSE:IRM)

Pacer Advisors Inc. cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 82.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 198,107 shares of the financial services provider’s stock after selling 959,554 shares during the period. Pacer Advisors Inc.’s holdings in Iron Mountain were worth $23,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the third quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the second quarter worth about $32,000. West Branch Capital LLC bought a new position in Iron Mountain during the third quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain during the second quarter worth about $36,000. Finally, Family Firm Inc. bought a new position in Iron Mountain during the second quarter worth about $45,000. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent research reports. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group increased their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average price target of $129.40.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock worth $6,613,584. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.3 %

Shares of Iron Mountain stock opened at $119.10 on Friday. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 330.84, a PEG ratio of 6.98 and a beta of 0.99. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $62.58 and a 12-month high of $130.24. The firm’s 50-day moving average price is $119.86 and its two-hundred day moving average price is $104.29.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.40%. Iron Mountain’s payout ratio is currently 794.47%.

Iron Mountain Company 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.