OneAscent Wealth Management LLC Boosts Stake in Iron Mountain Incorporated (NYSE:IRM)

OneAscent Wealth Management LLC raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,765 shares of the financial services provider’s stock after purchasing an additional 176 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Iron Mountain were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at $36,000. Finally, Family Firm Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, 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 value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. This represents a 20.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,387 shares of company stock valued at $6,861,838 in the last three months. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Down 0.8 %

Shares of NYSE:IRM traded down $0.97 on Monday, hitting $113.91. 198,945 shares of the company’s stock were exchanged, compared to its average volume of 1,598,907. The firm’s 50-day moving average is $119.57 and its 200 day moving average is $103.24. The company has a market capitalization of $33.43 billion, a PE ratio of 319.15, a P/E/G ratio of 6.88 and a beta of 0.99. Iron Mountain Incorporated has a 1-year low of $61.80 and a 1-year high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.51%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $129.40.

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.