Fortitude Family Office LLC Buys 147 Shares of Iron Mountain Incorporated (NYSE:IRM)

Fortitude Family Office LLC boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,695 shares of the financial services provider’s stock after acquiring an additional 147 shares during the quarter. Fortitude Family Office LLC’s holdings in Iron Mountain were worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC acquired a new position in Iron Mountain in the 3rd quarter worth about $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain in the third quarter valued at about $36,000. Dunhill Financial LLC boosted its stake 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 purchasing an additional 152 shares in the last quarter. Finally, Quarry LP grew its holdings 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 worth $59,000 after purchasing an additional 230 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $102.81 on Friday. The business has a 50-day moving average price of $113.11 and a two-hundred day moving average price of $110.91. Iron Mountain Incorporated has a 1-year low of $64.68 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 $30.17 billion, a P/E ratio of 285.59, a PEG ratio of 6.70 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.78%. Iron Mountain’s payout ratio is currently 794.44%.

Analyst Ratings Changes

IRM has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report 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 stock an “overweight” rating in a report on Thursday, October 17th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays cut their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and a consensus price target of $131.00.

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.