Adell Harriman & Carpenter Inc. Has $34.67 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Adell Harriman & Carpenter Inc. increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,829 shares of the financial services provider’s stock after acquiring an additional 1,459 shares during the quarter. Iron Mountain comprises about 2.4% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 12th largest position. Adell Harriman & Carpenter Inc.’s holdings in Iron Mountain were worth $34,668,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares during the last quarter. Friedenthal Financial bought a new stake in Iron Mountain in the third quarter valued at approximately $824,000. Merit Financial Group LLC increased its position in shares of Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 7,137 shares in the last quarter. Tidal Investments LLC lifted its holdings in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 5,511 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock valued at $16,805,912 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 0.1 %

NYSE IRM opened at $95.34 on Friday. The firm’s 50 day moving average is $105.45 and its 200-day moving average is $112.70. The company has a market capitalization of $27.98 billion, a PE ratio of 264.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is presently 794.47%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays dropped their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.17.

About Iron Mountain

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.