Secure Asset Management LLC Increases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Secure Asset Management LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,358 shares of the financial services provider’s stock after purchasing an additional 127 shares during the period. Secure Asset Management LLC’s holdings in Iron Mountain were worth $563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the third quarter valued at $31,000. West Branch Capital LLC bought a new position in Iron Mountain during the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $36,000. Dunhill Financial LLC grew its stake in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the period. Finally, Quarry LP raised its holdings in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 0.1 %

Shares of IRM opened at $111.17 on Friday. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 308.81, a PEG ratio of 6.05 and a beta of 1.02. The business has a 50-day simple moving average of $110.88 and a two-hundred day simple moving average of $112.24.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders 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 2.57%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $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 over the last three months. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price 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. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays reduced their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Six investment 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 a consensus target price of $131.00.

Iron Mountain 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.