Sawyer & Company Inc Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

Sawyer & Company Inc decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 23.2% during the 4th quarter, Holdings Channel reports. The fund owned 595 shares of the financial services provider’s stock after selling 180 shares during the quarter. Sawyer & Company Inc’s holdings in Iron Mountain were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. PNC Financial Services Group Inc. increased its position in Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the period. Friedenthal Financial purchased a new stake in shares of Iron Mountain in the third quarter valued at approximately $824,000. Tidal Investments LLC grew its holdings in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares during the period. Lord Abbett & CO. LLC purchased a new position in Iron Mountain in the third quarter worth $24,122,000. Finally, World Investment Advisors LLC acquired a new stake in Iron Mountain in the third quarter valued at $554,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays reduced their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company lifted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Price Performance

Shares of IRM opened at $105.95 on Thursday. Iron Mountain Incorporated has a 1-year low of $64.68 and a 1-year high of $130.24. The firm has a 50 day simple moving average of $111.87 and a 200-day simple moving average of $111.50. The stock has a market cap of $31.09 billion, a price-to-earnings ratio of 294.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.70%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s 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 completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade 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 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.