Sigma Planning Corp Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Sigma Planning Corp trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 13.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,601 shares of the financial services provider’s stock after selling 736 shares during the quarter. Sigma Planning Corp’s holdings in Iron Mountain were worth $547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. West Branch Capital LLC purchased a new stake in Iron Mountain in the third quarter worth $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the second quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain in the second quarter worth $36,000. Headlands Technologies LLC purchased a new stake in Iron Mountain in the first quarter worth $38,000. Finally, Family Firm Inc. purchased a new stake in Iron Mountain in the second quarter worth $45,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,387 shares of company stock worth $6,971,838 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Iron Mountain stock opened at $113.16 on Friday. The firm has a market capitalization of $33.21 billion, a P/E ratio of 314.33, a PEG ratio of 6.86 and a beta of 0.99. Iron Mountain Incorporated has a one year low of $61.59 and a one year high of $130.24. The business has a fifty day moving average price of $119.46 and a 200-day moving average price of $102.63. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of recent research reports. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays raised their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $129.80.

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.