Massmutual Trust Co. FSB ADV Reduces Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Massmutual Trust Co. FSB ADV decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 18.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,000 shares of the financial services provider’s stock after selling 221 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Iron Mountain were worth $59,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Iron Mountain by 88.6% in the second quarter. Barclays PLC now owns 599,593 shares of the financial services provider’s stock worth $34,070,000 after acquiring an additional 281,617 shares during the period. Farther Finance Advisors LLC lifted its stake in Iron Mountain by 38.5% in the second quarter. Farther Finance Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 280 shares during the period. DCM Advisors LLC purchased a new stake in Iron Mountain in the second quarter worth $374,000. Portside Wealth Group LLC purchased a new stake in Iron Mountain in the second quarter worth $1,140,000. Finally, Delphi Management Inc. MA bought a new position in Iron Mountain in the second quarter worth $1,353,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $68.00 in a report on Monday, August 21st. Barclays increased their price objective on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. UBS Group assumed coverage on Iron Mountain in a report on Tuesday, November 7th. They issued a “sell” rating and a $44.00 price objective for the company. Finally, StockNews.com assumed coverage on Iron Mountain in a report on Thursday, October 5th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Iron Mountain Stock Up 0.3 %

Shares of NYSE:IRM traded up $0.20 on Friday, hitting $62.23. 1,082,130 shares of the company traded hands, compared to its average volume of 1,469,207. Iron Mountain Incorporated has a 52 week low of $48.92 and a 52 week high of $64.48. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 43.97. The stock has a 50 day simple moving average of $60.35 and a 200-day simple moving average of $59.01. The company has a market cap of $18.17 billion, a PE ratio of 65.51, a PEG ratio of 3.93 and a beta of 0.90.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.60 annualized dividend and a dividend yield of 4.18%. Iron Mountain’s payout ratio is presently 273.69%.

Insider Activity

In other news, COO John Tomovcsik sold 41,859 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $62.97, for a total transaction of $2,635,861.23. Following the completion of the transaction, the chief operating officer now directly owns 20,455 shares in the company, valued at $1,288,051.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $57.68, for a total value of $115,360.00. Following the completion of the sale, the executive vice president now directly owns 56,026 shares in the company, valued at approximately $3,231,579.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Tomovcsik sold 41,859 shares of Iron Mountain stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $62.97, for a total value of $2,635,861.23. Following the completion of the sale, the chief operating officer now owns 20,455 shares of the company’s stock, valued at $1,288,051.35. The disclosure for this sale can be found here. Insiders sold 66,873 shares of company stock worth $4,098,639 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.