Sheaff Brock Investment Advisors LLC Sells 21,172 Shares of Iron Mountain Incorporated (NYSE:IRM)

Sheaff Brock Investment Advisors LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.2% during the third quarter, HoldingsChannel reports. The firm owned 117,863 shares of the financial services provider’s stock after selling 21,172 shares during the period. Iron Mountain comprises 1.2% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 11th biggest holding. Sheaff Brock Investment Advisors LLC’s holdings in Iron Mountain were worth $14,006,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain during the 3rd quarter valued at about $31,000. West Branch Capital LLC bought a new stake in Iron Mountain in the 3rd quarter valued at $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the 2nd quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain during the 2nd quarter valued at about $36,000. Finally, Headlands Technologies LLC bought a new stake in shares of Iron Mountain in the first quarter worth about $38,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IRM shares. The Goldman Sachs Group increased their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted 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. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $129.80.

Iron Mountain Price Performance

NYSE:IRM opened at $113.16 on Friday. The firm’s fifty day moving average is $119.46 and its two-hundred day moving average is $102.63. The firm has a market cap of $33.21 billion, a price-to-earnings ratio of 314.34, a PEG ratio of 6.95 and a beta of 0.99. Iron Mountain Incorporated has a one year low of $61.59 and a one year high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insiders Place Their Bets

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,387 shares of company stock worth $6,971,838. Company insiders own 2.10% of the company’s stock.

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.