Prestige Wealth Management Group LLC Raises Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Prestige Wealth Management Group LLC increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2,770.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,846 shares of the financial services provider’s stock after acquiring an additional 3,712 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Iron Mountain were worth $460,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain in the 3rd quarter worth about $31,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter valued at about $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter valued at about $36,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the 2nd quarter valued at approximately $32,000. Finally, Dunhill Financial LLC increased its stake in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 4.8 %

Shares of Iron Mountain stock opened at $114.35 on Tuesday. The company’s 50-day moving average price is $120.67 and its 200-day moving average price is $107.77. The company has a market cap of $33.56 billion, a price-to-earnings ratio of 317.64, a PEG ratio of 7.20 and a beta of 0.98. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.50%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

Insider Activity

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’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 transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the subject of several research reports. Barclays reduced their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has an average rating of “Buy” and an average target price 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.