GM Advisory Group LLC Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

GM Advisory Group LLC decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.5% during the third quarter, HoldingsChannel reports. The firm owned 7,789 shares of the financial services provider’s stock after selling 280 shares during the period. GM Advisory Group LLC’s holdings in Iron Mountain were worth $926,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IRM. Legal & General Group Plc increased its position in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after buying an additional 141,675 shares in the last quarter. AGF Management Ltd. grew its position in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after acquiring an additional 972,101 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after acquiring an additional 6,562 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after acquiring an additional 402,625 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 2.4 %

NYSE IRM opened at $119.14 on Friday. The business’s 50-day moving average is $119.82 and its 200 day moving average is $104.00. The stock has a market capitalization of $34.96 billion, a PE ratio of 330.94, a PEG ratio of 6.98 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 1 year low of $62.58 and a 1 year 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 paid a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. 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 note on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. 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. Finally, Barclays decreased their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday. Five 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 has a consensus rating of “Buy” and an average price target of $129.40.

Insider Activity at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 over the last quarter. 2.10% of the stock is owned by corporate insiders.

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.