Iron Mountain Incorporated (NYSE:IRM) Stock Position Raised by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 151.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,147 shares of the financial services provider’s stock after purchasing an additional 5,511 shares during the period. Exchange Traded Concepts LLC’s holdings in Iron Mountain were worth $961,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Secure Asset Management LLC increased its stake in shares of Iron Mountain by 2.4% in the fourth quarter. Secure Asset Management LLC now owns 5,358 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 127 shares during the period. Wesbanco Bank Inc. boosted its stake in Iron Mountain by 17.4% during the fourth quarter. Wesbanco Bank Inc. now owns 2,329 shares of the financial services provider’s stock worth $245,000 after buying an additional 345 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Iron Mountain by 4.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 92,363 shares of the financial services provider’s stock valued at $9,708,000 after acquiring an additional 4,350 shares during the period. Aspire Private Capital LLC lifted its position in shares of Iron Mountain by 2.7% during the 4th quarter. Aspire Private Capital LLC now owns 9,638 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 255 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in shares of Iron Mountain by 6.6% in the 4th quarter. Atomi Financial Group Inc. now owns 4,559 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IRM shares. Barclays dropped their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company lifted their target price 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. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $130.83.

Iron Mountain Price Performance

Iron Mountain stock opened at $98.53 on Wednesday. Iron Mountain Incorporated has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The firm has a market capitalization of $28.92 billion, a PE ratio of 273.71, a P/E/G ratio of 6.05 and a beta of 1.02. The company’s 50-day moving average is $110.29 and its 200-day moving average is $112.58.

Iron Mountain Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.90%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 over the last three months. Insiders own 2.10% of the company’s stock.

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.