Independent Advisor Alliance Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Independent Advisor Alliance reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 19.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,849 shares of the financial services provider’s stock after selling 9,338 shares during the period. Independent Advisor Alliance’s holdings in Iron Mountain were worth $4,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Harvest Fund Management Co. Ltd raised its stake in Iron Mountain by 65.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 17,988 shares of the financial services provider’s stock worth $2,137,000 after purchasing an additional 7,122 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Iron Mountain during the third quarter worth about $271,000. Hartford Funds Management Co LLC raised its stake in Iron Mountain by 8.8% during the third quarter. Hartford Funds Management Co LLC now owns 4,398 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 354 shares during the period. Summit Trail Advisors LLC purchased a new position in Iron Mountain during the third quarter worth about $571,000. Finally, Larson Financial Group LLC raised its stake in Iron Mountain by 29.8% during the third quarter. Larson Financial Group LLC now owns 557 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 128 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IRM shares. Wells Fargo & Company lifted their price target 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. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays dropped their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $129.40.

Iron Mountain Trading Up 0.3 %

Shares of IRM stock opened at $119.10 on Monday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $34.95 billion, a P/E ratio of 330.84, a price-to-earnings-growth ratio of 7.16 and a beta of 0.99. The company has a 50 day moving average price of $119.86 and a 200 day moving average price of $104.67. Iron Mountain Incorporated has a fifty-two week low of $62.58 and a fifty-two week high of $130.24.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.40%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insider Buying and Selling

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 over the last 90 days. 2.10% of the stock is owned by insiders.

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.