Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 49.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,177 shares of the financial services provider’s stock after selling 12,849 shares during the period. Royal Fund Management LLC’s holdings in Iron Mountain were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IRM. Ballentine Partners LLC grew its holdings in Iron Mountain by 7.2% during the fourth quarter. Ballentine Partners LLC now owns 5,781 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 388 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Iron Mountain by 397.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 6,936 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 5,541 shares during the period. Community Bank of Raymore increased its stake in shares of Iron Mountain by 11.3% during the fourth quarter. Community Bank of Raymore now owns 16,496 shares of the financial services provider’s stock worth $1,734,000 after purchasing an additional 1,681 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in Iron Mountain during the 4th quarter worth approximately $244,000. Finally, Terra Nova Asset Management LLC lifted its position in shares of Iron Mountain by 0.6% in the fourth quarter. Terra Nova Asset Management LLC now owns 32,890 shares of the financial services provider’s stock valued at $3,457,000 after acquiring an additional 206 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IRM. Barclays lowered their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus raised 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Down 1.0 %

NYSE:IRM opened at $109.19 on Tuesday. Iron Mountain Incorporated has a fifty-two week low of $65.01 and a fifty-two week high of $130.24. The firm’s fifty day simple moving average is $111.19 and its 200-day simple moving average is $112.00. The stock has a market cap of $32.04 billion, a PE ratio of 303.31, a price-to-earnings-growth ratio of 6.01 and a beta of 1.02.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given 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 2.62%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’s 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 sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $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 have sold 125,016 shares of company stock valued at $13,666,427 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

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.