Independent Advisor Alliance lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,698 shares of the financial services provider’s stock after selling 988 shares during the quarter. Independent Advisor Alliance’s holdings in Iron Mountain were worth $2,524,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Compass Wealth Management LLC bought a new stake in Iron Mountain during the fourth quarter valued at about $26,000. Prostatis Group LLC purchased a new position in shares of Iron Mountain in the 4th quarter worth approximately $28,000. BOKF NA bought a new position in shares of Iron Mountain during the 1st quarter worth approximately $31,000. True Wealth Design LLC purchased a new stake in Iron Mountain during the fourth quarter valued at approximately $33,000. Finally, Kalos Management Inc. acquired a new stake in Iron Mountain in the first quarter valued at approximately $36,000. 76.94% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
IRM has been the subject of several analyst reports. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $58.00 to $68.00 in a report on Monday, August 21st. Barclays raised their price target on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Finally, StockNews.com assumed coverage on shares of Iron Mountain in a report on Thursday, August 17th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.75.
Insider Buying and Selling
In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $60.22, for a total transaction of $632,731.54. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $17,804,043. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $60.22, for a total value of $632,731.54. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $17,804,043. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wendy J. Murdock sold 12,000 shares of Iron Mountain stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $61.53, for a total value of $738,360.00. Following the transaction, the director now owns 25,991 shares of the company’s stock, valued at approximately $1,599,226.23. The disclosure for this sale can be found here. Insiders sold 134,208 shares of company stock valued at $7,670,320 over the last quarter. 2.20% of the stock is currently owned by company insiders.
Iron Mountain Stock Performance
IRM stock traded up $0.07 during midday trading on Friday, reaching $63.61. The stock had a trading volume of 759,412 shares, compared to its average volume of 1,402,449. The firm has a fifty day simple moving average of $60.07 and a two-hundred day simple moving average of $55.92. Iron Mountain Incorporated has a 52-week low of $43.33 and a 52-week high of $64.20. 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 stock has a market cap of $18.56 billion, a PE ratio of 48.93, a P/E/G ratio of 4.12 and a beta of 0.93.
Iron Mountain Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.09%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 190.00%.
Iron Mountain 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.
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