MinichMacGregor Wealth Management LLC Has $7.74 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

MinichMacGregor Wealth Management LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 73,663 shares of the financial services provider’s stock after selling 2,104 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Iron Mountain were worth $7,743,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of IRM. Wesbanco Bank Inc. grew its position in shares of Iron Mountain by 17.4% during the 4th quarter. Wesbanco Bank Inc. now owns 2,329 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 345 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Iron Mountain by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 92,363 shares of the financial services provider’s stock worth $9,708,000 after buying an additional 4,350 shares in the last quarter. Aspire Private Capital LLC grew its position in Iron Mountain by 2.7% during the fourth quarter. Aspire Private Capital LLC now owns 9,638 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 255 shares in the last quarter. Atomi Financial Group Inc. increased its stake in Iron Mountain by 6.6% during the 4th quarter. Atomi Financial Group Inc. now owns 4,559 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 283 shares during the period. Finally, Perpetual Ltd raised its holdings in Iron Mountain by 68.0% in the 4th quarter. Perpetual Ltd now owns 10,570 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 4,280 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Ratings Changes

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

Iron Mountain Trading Down 0.8 %

Shares of Iron Mountain stock opened at $110.05 on Thursday. The firm has a market capitalization of $32.30 billion, a PE ratio of 305.71, a price-to-earnings-growth ratio of 6.10 and a beta of 1.02. The firm’s 50 day moving average is $111.00 and its 200 day moving average is $112.12. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.60%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction that occurred 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. In the last ninety days, insiders sold 125,016 shares of company stock worth $13,666,427. Insiders own 2.10% of the company’s stock.

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.