Foster & Motley Inc. Has $357,000 Stake in Iron Mountain Incorporated (NYSE:IRM)

Foster & Motley Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,400 shares of the financial services provider’s stock after selling 320 shares during the quarter. Foster & Motley Inc.’s holdings in Iron Mountain were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IRM. PNC Financial Services Group Inc. grew its holdings 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 worth $6,402,000 after purchasing an additional 1,446 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $824,000. Merit Financial Group LLC lifted its holdings in shares of Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC boosted its position in shares of Iron Mountain by 254.1% during the 3rd 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, Lord Abbett & CO. LLC bought a new position in Iron Mountain in the third quarter valued at approximately $24,122,000. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IRM. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. StockNews.com cut 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. Finally, Barclays cut 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 report on Tuesday. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.83.

Iron Mountain Stock Down 0.6 %

NYSE IRM opened at $101.37 on Friday. The company has a market capitalization of $29.75 billion, a price-to-earnings ratio of 281.58, a PEG ratio of 5.53 and a beta of 1.02. Iron Mountain Incorporated has a twelve month low of $66.20 and a twelve month high of $130.24. The stock has a fifty day simple moving average of $109.28 and a 200 day simple moving average of $112.45.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.82%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders have 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.

Iron Mountain Profile

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.