MeadowBrook Investment Advisors LLC Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

MeadowBrook Investment Advisors LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 33.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 390 shares of the financial services provider’s stock after selling 195 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Iron Mountain were worth $46,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain during the 2nd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at approximately $36,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Performance

Shares of IRM stock traded down $0.91 during trading hours on Thursday, hitting $115.07. The stock had a trading volume of 102,190 shares, compared to its average volume of 1,600,073. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $33.77 billion, a PE ratio of 322.15, a PEG ratio of 6.86 and a beta of 0.99. The stock’s 50 day moving average is $119.38 and its 200 day moving average is $102.56. Iron Mountain Incorporated has a twelve month low of $61.59 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.49%. Iron Mountain’s payout ratio is 794.47%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company increased 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 upped their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $129.80.

Iron Mountain Company 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.