SFG Wealth Management LLC. Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

SFG Wealth Management LLC. decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,322 shares of the financial services provider’s stock after selling 500 shares during the period. SFG Wealth Management LLC.’s holdings in Iron Mountain were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of IRM. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain during the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC increased its position in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the period. Finally, Quarry LP raised its stake in shares of Iron Mountain by 86.5% during the third 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 last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.0 %

IRM opened at $109.19 on Monday. The company has a market cap of $32.04 billion, a P/E ratio of 303.31, a P/E/G ratio of 5.56 and a beta of 1.02. Iron Mountain Incorporated has a 52-week low of $65.01 and a 52-week high of $130.24. The company has a 50 day moving average of $111.35 and a two-hundred day moving average of $111.88.

Iron Mountain Announces Dividend

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

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IRM. Wells Fargo & Company lifted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target 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.