Empower Advisory Group LLC Sells 1,078 Shares of Iron Mountain Incorporated (NYSE:IRM)

Empower Advisory Group LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 34.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,075 shares of the financial services provider’s stock after selling 1,078 shares during the quarter. Empower Advisory Group LLC’s holdings in Iron Mountain were worth $247,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the 3rd quarter worth about $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain during the 3rd quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Iron Mountain during the 2nd quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the 2nd quarter worth about $36,000. Finally, Headlands Technologies LLC acquired a new position in shares of Iron Mountain during the 1st quarter worth about $38,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $114.87 on Friday. The company has a 50 day moving average of $119.57 and a 200-day moving average of $102.89. Iron Mountain Incorporated has a 1-year low of $61.59 and a 1-year high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market cap of $33.71 billion, a PE ratio of 319.09, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,387 shares of company stock valued at $6,971,838. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IRM shares. Barclays upped their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company increased their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $129.80.

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.