Strategic Investment Advisors MI Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

Strategic Investment Advisors MI increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,345 shares of the financial services provider’s stock after purchasing an additional 255 shares during the period. Strategic Investment Advisors MI’s holdings in Iron Mountain were worth $1,087,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the 3rd quarter valued at $36,000. Dunhill Financial LLC grew its stake in shares of 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 acquiring an additional 152 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 0.1 %

Shares of Iron Mountain stock opened at $111.17 on Monday. The company’s fifty day simple moving average is $110.88 and its 200-day simple moving average is $112.50. The company has a market cap of $32.62 billion, a price-to-earnings ratio of 308.81, a PEG ratio of 6.05 and a beta of 1.02. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24.

Iron Mountain Dividend Announcement

The company 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 was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.57%. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IRM. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted 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. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays lowered their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $131.00.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 over the last ninety days. 2.10% of the stock is owned by company insiders.

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.