Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,357 shares of the financial services provider’s stock after selling 1,585 shares during the period. Diversify Advisory Services LLC’s holdings in Iron Mountain were worth $643,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at approximately $31,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $36,000. Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares in the last quarter. Finally, Quarry LP boosted its holdings in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IRM. Royal Bank of Canada increased their price target on shares of 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 increased their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Barclays reduced their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Trading Up 1.5 %

Shares of IRM stock opened at $110.80 on Wednesday. Iron Mountain Incorporated has a 12 month low of $66.20 and a 12 month high of $130.24. The company has a market cap of $32.52 billion, a P/E ratio of 307.80, a PEG ratio of 6.01 and a beta of 1.02. The firm has a fifty day moving average price of $111.11 and a 200 day moving average price of $112.13.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.58%. Iron Mountain’s payout ratio is currently 794.47%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock worth $13,666,427 over the last 90 days. 2.10% of the stock is 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.