Symphony Financial Ltd. Co. Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Symphony Financial Ltd. Co. increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,799 shares of the financial services provider’s stock after acquiring an additional 230 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Iron Mountain were worth $1,954,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after buying an additional 2,672,821 shares during the period. Mizuho Securities USA LLC grew its position in Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after acquiring an additional 495,898 shares during the last quarter. International Assets Investment Management LLC increased its stake in Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares during the period. abrdn plc lifted its position in Iron Mountain by 88.2% in the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock valued at $73,770,000 after purchasing an additional 293,425 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Iron Mountain by 368.4% during the third quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after purchasing an additional 240,195 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Down 0.6 %

IRM opened at $101.37 on Friday. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24. The stock has a market cap of $29.75 billion, a PE ratio of 281.58, a PEG ratio of 5.53 and a beta of 1.02. The business has a 50 day moving average of $109.28 and a 200-day moving average of $112.45.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.82%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Analyst Ratings Changes

IRM has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company upped their price objective 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. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $130.83.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,016 shares of company stock worth $13,666,427. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

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.