RMR Wealth Builders Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

RMR Wealth Builders cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,752 shares of the financial services provider’s stock after selling 139 shares during the quarter. RMR Wealth Builders’ holdings in Iron Mountain were worth $394,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the third quarter valued at $31,000. West Branch Capital LLC bought a new stake in Iron Mountain during the third quarter valued at $33,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the third quarter valued at $36,000. Dunhill Financial LLC boosted its stake in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares during the period. Finally, Quarry LP lifted its stake in Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock worth $13,666,427 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 1.6 %

IRM opened at $101.21 on Friday. Iron Mountain Incorporated has a 12 month low of $64.68 and a 12 month high of $130.24. The company has a market cap of $29.70 billion, a P/E ratio of 281.15, a P/E/G ratio of 6.70 and a beta of 1.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The business’s 50-day moving average price is $113.11 and its 200-day moving average price is $110.91.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.83%. Iron Mountain’s dividend payout ratio is presently 794.44%.

Analyst Ratings Changes

Several brokerages have issued reports on IRM. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays dropped their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $131.00.

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.