Allen Mooney & Barnes Investment Advisors LLC Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

Allen Mooney & Barnes Investment Advisors LLC trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,430 shares of the financial services provider’s stock after selling 431 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Iron Mountain were worth $416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Iron Mountain in the 4th quarter worth $16,590,000. Goldman Sachs Group Inc. boosted its holdings in Iron Mountain by 6.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after buying an additional 59,381 shares during the period. Handelsbanken Fonder AB boosted its holdings in Iron Mountain by 42.3% in the 4th quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock worth $11,343,000 after buying an additional 48,170 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Iron Mountain by 6.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after buying an additional 27,551 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 0.3 %

IRM opened at $89.09 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $53.97 and a 52 week high of $89.91. The firm has a 50-day simple moving average of $81.12 and a two-hundred day simple moving average of $75.41. The company has a market capitalization of $26.11 billion, a PE ratio of 134.99, a price-to-earnings-growth ratio of 5.26 and a beta of 0.95.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.92%. Iron Mountain’s dividend payout ratio is currently 393.95%.

Insider Buying and Selling

In related news, EVP Edward Baker-Greene sold 6,200 shares of Iron Mountain stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the transaction, the executive vice president now owns 11,311 shares in the company, valued at $999,326.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Iron Mountain news, EVP Edward Baker-Greene sold 6,200 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the sale, the executive vice president now owns 11,311 shares of the company’s stock, valued at $999,326.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $75.35, for a total transaction of $113,025.00. Following the completion of the sale, the director now directly owns 24,491 shares of the company’s stock, valued at approximately $1,845,396.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,511 shares of company stock worth $8,787,218. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Barclays upped their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

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.