Financial Management Professionals Inc. Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Financial Management Professionals Inc. boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,434 shares of the financial services provider’s stock after buying an additional 589 shares during the quarter. Financial Management Professionals Inc.’s holdings in Iron Mountain were worth $571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IRM. Ameritas Advisory Services LLC grew its holdings in shares of Iron Mountain by 5.5% during the fourth quarter. Ameritas Advisory Services LLC now owns 4,092 shares of the financial services provider’s stock worth $430,000 after buying an additional 214 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in shares of Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 106 shares during the period. Somerset Trust Co raised its stake in shares of Iron Mountain by 28.5% during the fourth quarter. Somerset Trust Co now owns 4,685 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 1,040 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 7,137 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its position in Iron Mountain by 2.3% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 12,711 shares of the financial services provider’s stock valued at $1,336,000 after buying an additional 280 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 1.0 %

Shares of NYSE:IRM opened at $109.19 on Friday. The business has a fifty day simple moving average of $111.35 and a 200-day simple moving average of $111.74. Iron Mountain Incorporated has a 52 week low of $65.01 and a 52 week high of $130.24. The company has a market cap of $32.04 billion, a P/E ratio of 303.31, a P/E/G ratio of 5.56 and a beta of 1.02.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.62%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Activity at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IRM. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted 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. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays dropped their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $131.00.

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.