Sheaff Brock Investment Advisors LLC Reduces Holdings in Iron Mountain Incorporated (NYSE:IRM)

Sheaff Brock Investment Advisors LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,863 shares of the financial services provider’s stock after selling 21,172 shares during the period. Iron Mountain makes up about 1.2% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 11th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in Iron Mountain were worth $14,006,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Headlands Technologies LLC bought a new position in Iron Mountain in the 1st quarter worth about $38,000. Koshinski Asset Management Inc. grew its stake in Iron Mountain by 27.2% during the first quarter. Koshinski Asset Management Inc. now owns 5,310 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 1,135 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after acquiring an additional 7,486 shares during the period. HBK Sorce Advisory LLC purchased a new stake in Iron Mountain in the 1st quarter worth approximately $217,000. Finally, Centersquare Investment Management LLC boosted its holdings in Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after purchasing an additional 1,519,237 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Iron Mountain stock opened at $113.16 on Friday. Iron Mountain Incorporated has a 1-year low of $61.59 and a 1-year high of $130.24. The firm has a market cap of $33.21 billion, a P/E ratio of 314.34, a P/E/G ratio of 6.95 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a 50-day moving average of $119.46 and a 200-day moving average of $102.63.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.53%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent analyst reports. Barclays boosted their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus increased their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $129.80.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,387 shares of company stock worth $6,971,838. 2.10% of the stock is currently owned by corporate insiders.

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.