GM Advisory Group LLC Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

GM Advisory Group LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,789 shares of the financial services provider’s stock after selling 280 shares during the period. GM Advisory Group LLC’s holdings in Iron Mountain were worth $926,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IRM. Legal & General Group Plc grew its position in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after acquiring an additional 141,675 shares during the last quarter. AGF Management Ltd. grew its position in shares of Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after acquiring an additional 972,101 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after purchasing an additional 402,625 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 2.4 %

Shares of NYSE IRM opened at $119.14 on Friday. The business has a 50-day simple moving average of $119.82 and a two-hundred day simple moving average of $104.00. Iron Mountain Incorporated has a 52 week low of $62.58 and a 52 week high of $130.24. The company has a market cap of $34.96 billion, a P/E ratio of 330.94, a P/E/G ratio of 6.98 and a beta of 0.99. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

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

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was 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. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,125 shares of company stock valued at $6,613,584. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of several research reports. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays lowered their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus increased their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $129.40.

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.