Kingsview Wealth Management LLC Lowers Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Kingsview Wealth Management LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,833 shares of the financial services provider’s stock after selling 634 shares during the period. Kingsview Wealth Management LLC’s holdings in Iron Mountain were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after acquiring an additional 1,286,694 shares during the period. AGF Management Ltd. boosted its holdings in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares in the last quarter. Mizuho Securities USA LLC grew its position in Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares during the period. International Assets Investment Management LLC increased its holdings in Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after buying an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,125 shares of company stock worth $6,613,584. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $124.24 on Thursday. The stock has a market capitalization of $36.46 billion, a P/E ratio of 344.90, a P/E/G ratio of 7.26 and a beta of 0.99. Iron Mountain Incorporated has a 12-month low of $62.95 and a 12-month high of $130.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50-day moving average is $120.06 and its two-hundred day moving average is $105.26.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.30%. Iron Mountain’s payout ratio is currently 794.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IRM shares. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $131.00.

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.