Wealth Enhancement Advisory Services LLC Sells 9,905 Shares of Iron Mountain Incorporated (NYSE:IRM)

Wealth Enhancement Advisory Services LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.5% during the first quarter, Holdings Channel reports. The institutional investor owned 106,283 shares of the financial services provider’s stock after selling 9,905 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Iron Mountain were worth $8,525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IRM. International Assets Investment Management LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth approximately $16,590,000. Goldman Sachs Group Inc. raised its holdings in Iron Mountain by 6.7% during the fourth 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 last quarter. Handelsbanken Fonder AB lifted its stake in shares of Iron Mountain by 42.3% in the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock valued at $11,343,000 after buying an additional 48,170 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Iron Mountain by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock valued at $30,637,000 after buying an additional 27,551 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $89.62 on Friday. The stock has a 50 day moving average of $82.25 and a 200 day moving average of $75.99. The company has a market capitalization of $26.27 billion, a price-to-earnings ratio of 135.79, a PEG ratio of 5.28 and a beta of 0.95. Iron Mountain Incorporated has a 12 month low of $55.02 and a 12 month high of $90.40. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the sale, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Tomovcsik sold 35,084 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,511 shares of company stock valued at $8,787,218. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

IRM has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lifted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company increased their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.33.

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.