Golden State Equity Partners Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

Golden State Equity Partners reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,302 shares of the financial services provider’s stock after selling 113 shares during the quarter. Golden State Equity Partners’ holdings in Iron Mountain were worth $557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IRM. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC bought a new position in Iron Mountain during the 3rd quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC raised its position in Iron Mountain by 50.5% during 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 during the last quarter. Finally, Quarry LP raised its position in Iron Mountain by 86.5% during the 3rd 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. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

IRM stock opened at $101.37 on Monday. Iron Mountain Incorporated has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The business’s 50 day moving average price is $109.28 and its two-hundred day moving average price is $112.63. The company has a market capitalization of $29.75 billion, a price-to-earnings ratio of 281.58, a price-to-earnings-growth ratio of 5.53 and a beta of 1.02.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.82%. Iron Mountain’s payout ratio is currently 794.47%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents 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 worth $13,666,427 in the last 90 days. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IRM. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Barclays lowered their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus 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.