Ingalls & Snyder LLC Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Ingalls & Snyder LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,810 shares of the financial services provider’s stock after selling 270 shares during the period. Ingalls & Snyder LLC’s holdings in Iron Mountain were worth $1,136,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter valued at approximately $31,000. West Branch Capital LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the 3rd quarter worth $36,000. Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Quarry LP boosted its position in Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after buying an additional 230 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 7.3 %

NYSE:IRM opened at $95.20 on Friday. The company has a 50-day moving average price of $105.94 and a 200-day moving average price of $112.73. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 264.44, a P/E/G ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 12 month low of $66.86 and a 12 month high of $130.24.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.30%. Iron Mountain’s dividend payout ratio is 794.47%.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,391 shares of company stock valued at $16,805,912. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $129.17.

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.