Diversify Wealth Management LLC Makes New $244,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Diversify Wealth Management LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, HoldingsChannel reports. The fund bought 2,415 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRM. OneDigital Investment Advisors LLC grew its holdings in Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Iron Mountain by 0.8% in the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 92 shares during the period. Geller Advisors LLC increased its position in Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares during the last quarter. Schmidt P J Investment Management Inc. raised its stake in Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC boosted its holdings in Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Down 0.8 %

IRM stock opened at $110.05 on Thursday. The business’s fifty day moving average price is $111.00 and its 200 day moving average price is $112.12. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24. The company has a market capitalization of $32.30 billion, a PE ratio of 305.71, a P/E/G ratio of 6.01 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm 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. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.60%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target 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. Barclays reduced their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Wells Fargo & Company increased 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. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $131.00.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The stock was 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 directly owns 295,650 shares in the company, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is currently owned by corporate insiders.

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.