Iron Mountain Incorporated (NYSE:IRM) Stake Cut by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 17.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,532 shares of the financial services provider’s stock after selling 771 shares during the period. Raleigh Capital Management Inc.’s holdings in Iron Mountain were worth $371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wesbanco Bank Inc. raised 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 acquiring an additional 345 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of 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 worth $9,708,000 after purchasing an additional 4,350 shares in the last quarter. Aspire Private Capital LLC grew its position in Iron Mountain by 2.7% in the 4th quarter. Aspire Private Capital LLC now owns 9,638 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 255 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of Iron Mountain by 6.6% during the fourth quarter. Atomi Financial Group Inc. now owns 4,559 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 283 shares during the period. Finally, Perpetual Ltd increased its position in shares of Iron Mountain by 68.0% during the 4th quarter. Perpetual Ltd now owns 10,570 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 4,280 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Iron Mountain Stock Down 0.8 %

IRM opened at $110.05 on Thursday. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24. The stock’s 50 day moving average price is $111.00 and its two-hundred day moving average price is $112.12. The firm has a market capitalization of $32.30 billion, a P/E ratio of 305.71, a price-to-earnings-growth ratio of 6.10 and a beta of 1.02.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.60%. Iron Mountain’s payout ratio is 794.47%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays lowered their target price on 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 objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $131.00.

Iron Mountain 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.