HB Wealth Management LLC Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

HB Wealth Management LLC decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,891 shares of the financial services provider’s stock after selling 1,446 shares during the period. HB Wealth Management LLC’s holdings in Iron Mountain were worth $829,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC lifted its position in Iron Mountain by 58.0% in the 2nd quarter. AE Wealth Management LLC now owns 18,006 shares of the financial services provider’s stock worth $1,614,000 after buying an additional 6,611 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Iron Mountain by 15.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 223,686 shares of the financial services provider’s stock worth $20,047,000 after acquiring an additional 30,293 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Iron Mountain by 3.1% in the 2nd quarter. Profund Advisors LLC now owns 4,686 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 141 shares in the last quarter. ProShare Advisors LLC raised its position in Iron Mountain by 6.1% in the 2nd quarter. ProShare Advisors LLC now owns 51,751 shares of the financial services provider’s stock worth $4,638,000 after purchasing an additional 2,991 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Iron Mountain by 36.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,303 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s 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 $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,016 shares of company stock valued at $13,666,427. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

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

Iron Mountain Trading Up 1.5 %

Shares of IRM opened at $110.80 on Wednesday. Iron Mountain Incorporated has a 1-year low of $66.20 and a 1-year high of $130.24. The firm has a market capitalization of $32.52 billion, a price-to-earnings ratio of 307.80, a PEG ratio of 6.01 and a beta of 1.02. The firm’s 50-day moving average price is $111.11 and its 200-day moving average price is $112.13.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders 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 dividend yield of 2.58%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

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.