Bogart Wealth LLC Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Bogart Wealth LLC lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,971 shares of the financial services provider’s stock after selling 112 shares during the quarter. Bogart Wealth LLC’s holdings in Iron Mountain were worth $417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Van ECK Associates Corp increased its holdings in shares of Iron Mountain by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider’s stock valued at $5,841,000 after purchasing an additional 5,150 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $2,259,000. Axecap Investments LLC increased its holdings in shares of Iron Mountain by 6.0% in the fourth quarter. Axecap Investments LLC now owns 9,149 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 515 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Iron Mountain by 19.4% in the fourth quarter. Summit Trail Advisors LLC now owns 5,704 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 927 shares during the last quarter. Finally, Savant Capital LLC increased its holdings in shares of Iron Mountain by 3.5% in the fourth quarter. Savant Capital LLC now owns 11,730 shares of the financial services provider’s stock valued at $1,233,000 after purchasing an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Iron Mountain Trading Up 0.1 %

NYSE:IRM opened at $95.34 on Friday. The firm has a market cap of $27.98 billion, a PE ratio of 264.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01. The stock has a fifty day moving average price of $105.45 and a 200 day moving average price of $112.70. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.29%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,391 shares of company stock worth $16,805,912. Company insiders own 2.10% of the company’s stock.

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.