Royal Capital Wealth Management LLC Invests $202,000 in Iron Mountain Incorporated (NYSE:IRM)

Royal Capital Wealth Management LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,700 shares of the financial services provider’s stock, valued at approximately $202,000.

Other large investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its holdings in Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Iron Mountain by 0.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its position in shares of Iron Mountain by 3.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 100 shares in the last quarter. Claro Advisors LLC increased its holdings in shares of Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after acquiring an additional 103 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its position in shares of Iron Mountain by 2.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $123.67 on Friday. 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 Incorporated has a one year low of $62.95 and a one year high of $130.24. The company has a 50-day simple moving average of $120.59 and a 200-day simple moving average of $105.84. The stock has a market capitalization of $36.29 billion, a price-to-earnings ratio of 343.54, a PEG ratio of 7.44 and a beta of 0.99.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.31%. Iron Mountain’s payout ratio is 794.47%.

Analyst Ratings Changes

Several brokerages have commented on IRM. 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. Stifel Nicolaus increased their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Barclays reduced their price target 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. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average target price of $131.00.

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, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is currently owned by insiders.

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.