Flagship Harbor Advisors LLC Purchases 977 Shares of Iron Mountain Incorporated (NYSE:IRM)

Flagship Harbor Advisors LLC boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,906 shares of the financial services provider’s stock after purchasing an additional 977 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Iron Mountain were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after buying an additional 445,207 shares during the last quarter. abrdn plc raised its position in shares of Iron Mountain by 88.2% during the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock valued at $73,770,000 after buying an additional 293,425 shares in the last quarter. Finally, KBC Group NV grew its position in Iron Mountain by 368.4% in the third quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock worth $36,289,000 after acquiring an additional 240,195 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 6.5 %

Shares of Iron Mountain stock opened at $103.84 on Tuesday. The company’s fifty day simple moving average is $110.65 and its two-hundred day simple moving average is $112.56. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24. The firm has a market cap of $30.47 billion, a PE ratio of 288.44, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02.

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 issued a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.75%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Analyst Ratings Changes

Several brokerages have issued reports on IRM. Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $131.00.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last 90 days. Insiders own 2.10% of the company’s stock.

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.