Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,055 shares of the financial services provider’s stock after selling 355 shares during the period. Sheets Smith Wealth Management’s holdings in Iron Mountain were worth $636,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain during the third quarter worth about $31,000. West Branch Capital LLC acquired a new position in Iron Mountain during the 3rd quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC raised its holdings in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IRM has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays lowered their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain Trading Down 0.8 %

Shares of NYSE IRM opened at $110.05 on Thursday. The stock has a market cap of $32.30 billion, a P/E ratio of 305.71, a P/E/G ratio of 6.01 and a beta of 1.02. Iron Mountain Incorporated has a twelve month low of $66.20 and a twelve month high of $130.24. The stock has a 50 day moving average of $111.00 and a two-hundred day moving average of $112.12.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.44%.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value 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 approximately $34,874,874. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock worth $13,666,427 in the last 90 days. 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.