Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 91.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,933 shares of the financial services provider’s stock after buying an additional 7,137 shares during the quarter. Merit Financial Group LLC’s holdings in Iron Mountain were worth $1,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the 3rd quarter worth about $31,000. West Branch Capital LLC acquired a new position in Iron Mountain in the 3rd quarter worth about $33,000. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain in the 3rd quarter worth about $36,000. Dunhill Financial LLC raised its holdings in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the period. Finally, Quarry LP raised its holdings in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on IRM. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays cut their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, 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 note on Wednesday, November 27th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $131.00.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. 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 worth $13,666,427 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 1.0 %

NYSE:IRM opened at $109.19 on Tuesday. The stock’s fifty day moving average is $111.19 and its two-hundred day moving average is $112.00. Iron Mountain Incorporated has a 52 week low of $65.01 and a 52 week high of $130.24. The stock has a market capitalization of $32.04 billion, a price-to-earnings ratio of 303.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

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.