Princeton Global Asset Management LLC Reduces Stake in Iron Mountain Incorporated (NYSE:IRM)

Princeton Global Asset Management LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 50.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 500 shares of the financial services provider’s stock after selling 500 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Iron Mountain were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the third quarter valued at about $31,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter worth about $36,000. Dunhill Financial LLC boosted its position in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares during the period. Finally, Quarry LP boosted its position 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 buying an additional 230 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Down 0.9 %

Shares of IRM stock opened at $100.64 on Tuesday. The business’s fifty day simple moving average is $108.88 and its 200-day simple moving average is $112.65. The company has a market cap of $29.53 billion, a PE ratio of 279.57, a PEG ratio of 5.58 and a beta of 1.02. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

Insider Activity

In other news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IRM shares. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Finally, Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average target price of $130.83.

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.