Essex Savings Bank Sells 1,214 Shares of Iron Mountain Incorporated (NYSE:IRM)

Essex Savings Bank reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,645 shares of the financial services provider’s stock after selling 1,214 shares during the quarter. Essex Savings Bank’s holdings in Iron Mountain were worth $488,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IRM. OneDigital Investment Advisors LLC grew its stake in Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Iron Mountain by 0.8% in 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 buying an additional 92 shares during the last quarter. Geller Advisors LLC grew its position in Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after buying an additional 96 shares during the period. Schmidt P J Investment Management Inc. increased its holdings in Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after buying an additional 100 shares during the last quarter. Finally, Claro Advisors LLC raised its position in Iron Mountain by 0.6% in the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after acquiring an additional 103 shares during the period. 80.13% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on 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 in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of the 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 disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock worth $13,666,427 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $105.95 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $64.68 and a fifty-two week high of $130.24. The stock has a market cap of $31.09 billion, a PE ratio of 294.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02. The stock has a fifty day moving average of $111.87 and a 200-day moving average of $111.50.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Monday, December 16th. Iron Mountain’s payout ratio is presently 794.47%.

Analyst Ratings Changes

A number of research firms have recently weighed in on IRM. Wells Fargo & Company increased their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays lowered their target price 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. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus lifted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $131.00.

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.