Dumont & Blake Investment Advisors LLC Sells 170 Shares of Iron Mountain Incorporated (NYSE:IRM)

Dumont & Blake Investment Advisors LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 30,304 shares of the financial services provider’s stock after selling 170 shares during the period. Iron Mountain accounts for approximately 0.9% of Dumont & Blake Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Dumont & Blake Investment Advisors LLC’s holdings in Iron Mountain were worth $3,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 1,446 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Iron Mountain in the third quarter valued at $824,000. Merit Financial Group LLC raised its stake in shares of Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC grew its holdings in shares of Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Iron Mountain during the 3rd quarter worth about $24,122,000. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % 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 three months. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised 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. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays lowered their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Iron Mountain Stock Up 1.7 %

IRM opened at $102.33 on Friday. The firm has a market cap of $30.03 billion, a P/E ratio of 284.26, a PEG ratio of 5.53 and a beta of 1.02. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24. The business’s fifty day simple moving average is $109.64 and its 200 day simple moving average is $112.42.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.79%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

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.