International Assets Investment Management LLC Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

International Assets Investment Management LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 99.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,689 shares of the financial services provider’s stock after selling 444,955 shares during the quarter. International Assets Investment Management LLC’s holdings in Iron Mountain were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain during the third quarter valued at about $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC grew its position 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 worth $54,000 after buying an additional 152 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $101.21 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24. The firm’s fifty day simple moving average is $112.71 and its 200 day simple moving average is $111.15. The firm has a market capitalization of $29.70 billion, a PE ratio of 281.15, a PEG ratio of 6.70 and a beta of 1.02.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target 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. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Barclays reduced their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $131.00.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is owned by corporate insiders.

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.