Bogart Wealth LLC Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

Bogart Wealth LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 3,971 shares of the financial services provider’s stock after selling 112 shares during the period. Bogart Wealth LLC’s holdings in Iron Mountain were worth $417,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares during the period. Mizuho Securities USA LLC increased its position in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after acquiring an additional 495,898 shares during the period. International Assets Investment Management LLC increased its position in Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares during the period. abrdn plc increased its position in Iron Mountain by 88.2% during the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after purchasing an additional 293,425 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in Iron Mountain by 10,432.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 240,261 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on IRM shares. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

Iron Mountain Stock Performance

IRM stock opened at $95.34 on Friday. Iron Mountain Incorporated has a 1 year low of $67.09 and a 1 year high of $130.24. The firm has a market cap of $27.98 billion, a P/E ratio of 264.85, a PEG ratio of 5.84 and a beta of 1.01. The stock’s 50 day moving average price is $105.45 and its 200 day moving average price is $112.70.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 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.