Lazard Asset Management LLC Sells 9,287 Shares of Iron Mountain Incorporated (NYSE:IRM)

Lazard Asset Management LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 48.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,044 shares of the financial services provider’s stock after selling 9,287 shares during the period. Lazard Asset Management LLC’s holdings in Iron Mountain were worth $488,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Shell Asset Management Co. grew its holdings in shares of Iron Mountain by 3.2% in the second quarter. Shell Asset Management Co. now owns 50,524 shares of the financial services provider’s stock valued at $2,460,000 after acquiring an additional 1,545 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in Iron Mountain by 19.2% during the second quarter. Eqis Capital Management Inc. now owns 36,666 shares of the financial services provider’s stock valued at $1,785,000 after purchasing an additional 5,913 shares during the period. Duality Advisers LP bought a new position in Iron Mountain during the second quarter valued at $1,881,000. AdvisorShares Investments LLC bought a new position in Iron Mountain during the second quarter valued at $741,000. Finally, Advisors Asset Management Inc. grew its holdings in Iron Mountain by 14.2% during the second quarter. Advisors Asset Management Inc. now owns 93,449 shares of the financial services provider’s stock valued at $4,550,000 after purchasing an additional 11,654 shares during the period. 76.80% of the stock is owned by institutional investors.

Iron Mountain Trading Up 1.9 %

NYSE:IRM opened at $52.30 on Friday. The company has a market cap of $15.20 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.62 and a beta of 0.84. The stock’s fifty day moving average price is $48.94 and its two-hundred day moving average price is $50.21. Iron Mountain Incorporated has a 1 year low of $41.67 and a 1 year high of $58.61. The company has a debt-to-equity ratio of 19.16, a current ratio of 0.90 and a quick ratio of 0.90.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.618 per share. The ex-dividend date is Wednesday, December 14th. This represents a $2.47 annualized dividend and a dividend yield of 4.73%. Iron Mountain’s dividend payout ratio is currently 146.15%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $52.06, for a total transaction of $546,994.42. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $15,391,539. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Deborah Marson sold 1,125 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $53.82, for a total value of $60,547.50. Following the sale, the executive vice president now owns 50,282 shares in the company, valued at $2,706,177.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 10,507 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $52.06, for a total value of $546,994.42. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $15,391,539. The disclosure for this sale can be found here. Insiders have sold a total of 24,391 shares of company stock worth $1,202,948 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Iron Mountain in a report on Wednesday, October 12th. They set a “hold” rating for the company. Evercore ISI reduced their price objective on Iron Mountain to $60.00 in a report on Tuesday.

Iron Mountain Profile

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Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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