Raymond James Financial Services Advisors Inc. reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 219,345 shares of the financial services provider’s stock after selling 4,622 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.08% of Iron Mountain worth $10,935,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in IRM. Financial Gravity Asset Management Inc. bought a new stake in shares of Iron Mountain in the third quarter valued at approximately $2,038,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Iron Mountain by 440.1% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 625 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Iron Mountain in the third quarter valued at $42,000. Accurate Wealth Management LLC purchased a new position in shares of Iron Mountain in the fourth quarter valued at $48,000. Finally, Spire Wealth Management grew its position in shares of Iron Mountain by 104.1% in the fourth quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.
Iron Mountain Stock Down 0.2 %
Shares of IRM opened at $55.09 on Monday. The company has a debt-to-equity ratio of 19.91, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $16.07 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.71 and a beta of 0.91. The stock has a 50 day simple moving average of $53.15 and a two-hundred day simple moving average of $52.64. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $57.21.
Iron Mountain Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a dividend of $0.6185 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.49%. Iron Mountain’s dividend payout ratio is presently 124.75%.
Insider Buying and Selling
In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $51.77, for a total transaction of $58,241.25. Following the sale, the executive vice president now owns 59,419 shares of the company’s stock, valued at approximately $3,076,121.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction dated Friday, April 14th. The shares were sold at an average price of $53.55, for a total value of $562,649.85. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $15,832,057.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah Marson sold 1,125 shares of the company’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $51.77, for a total transaction of $58,241.25. Following the completion of the sale, the executive vice president now directly owns 59,419 shares in the company, valued at $3,076,121.63. The disclosure for this sale can be found here. Insiders sold 94,552 shares of company stock valued at $4,993,621 over the last quarter. 2.20% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have recently commented on IRM. Barclays raised their price objective on shares of Iron Mountain from $56.00 to $64.00 in a research report on Friday, May 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Iron Mountain in a research note on Monday, March 6th. Finally, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.
Iron Mountain Company Profile
Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.
- Get a free copy of the StockNews.com research report on Iron Mountain (IRM)
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