Macquarie Group Ltd. Sells 53,913 Shares of Iron Mountain Incorporated (NYSE:IRM)

Macquarie Group Ltd. decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 55.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 42,923 shares of the financial services provider’s stock after selling 53,913 shares during the quarter. Macquarie Group Ltd.’s holdings in Iron Mountain were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its stake in Iron Mountain by 4.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,820 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 187 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Iron Mountain by 1.2% in the 1st quarter. Cresset Asset Management LLC now owns 16,001 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 195 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Iron Mountain by 5.9% in the 1st quarter. Raleigh Capital Management Inc. now owns 3,557 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 199 shares in the last quarter. Czech National Bank boosted its stake in Iron Mountain by 0.6% in the 1st quarter. Czech National Bank now owns 34,248 shares of the financial services provider’s stock worth $1,812,000 after purchasing an additional 203 shares in the last quarter. Finally, Mariner LLC boosted its stake in Iron Mountain by 1.1% in the 1st quarter. Mariner LLC now owns 19,352 shares of the financial services provider’s stock worth $1,072,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $63.10 on Tuesday. The company has a debt-to-equity ratio of 26.77, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 48.54, a price-to-earnings-growth ratio of 4.24 and a beta of 0.92. The company has a 50 day moving average price of $61.47 and a 200-day moving average price of $56.81. Iron Mountain Incorporated has a 1-year low of $43.33 and a 1-year high of $64.37.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.12%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 14th. Iron Mountain’s payout ratio is 200.00%.

Analyst Ratings Changes

A number of research firms have issued reports on IRM. Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $68.00 in a research report on Monday, August 21st. Barclays raised their price target on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Finally, StockNews.com began coverage on shares of Iron Mountain in a research report on Thursday, August 17th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.75.

Insider Activity

In other news, Director Wendy J. Murdock sold 12,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $61.53, for a total transaction of $738,360.00. Following the completion of the transaction, the director now directly owns 25,991 shares of the company’s stock, valued at approximately $1,599,226.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Friday, August 4th. The shares were sold at an average price of $59.70, for a total transaction of $119,400.00. Following the sale, the executive vice president now owns 60,026 shares of the company’s stock, valued at approximately $3,583,552.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wendy J. Murdock sold 12,000 shares of Iron Mountain stock in a transaction on Monday, August 7th. The stock was sold at an average price of $61.53, for a total transaction of $738,360.00. Following the sale, the director now directly owns 25,991 shares in the company, valued at approximately $1,599,226.23. The disclosure for this sale can be found here. Insiders sold a total of 37,395 shares of company stock valued at $2,256,112 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

About Iron Mountain

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.