Guardian Asset Advisors LLC Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Guardian Asset Advisors LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,441 shares of the financial services provider’s stock after selling 323 shares during the period. Guardian Asset Advisors LLC’s holdings in Iron Mountain were worth $1,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the 3rd quarter worth $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the third quarter valued at about $36,000. Dunhill Financial LLC raised its holdings in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares during the period. Finally, Oakworth Capital Inc. acquired a new position in Iron Mountain during the 4th quarter worth approximately $55,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM opened at $102.85 on Thursday. Iron Mountain Incorporated has a 1-year low of $66.20 and a 1-year high of $130.24. The company has a 50-day moving average of $106.40 and a 200-day moving average of $112.85. The company has a market capitalization of $30.18 billion, a P/E ratio of 285.70, a PEG ratio of 5.84 and a beta of 1.01.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.05%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 794.47%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IRM shares. Barclays dropped their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $129.17.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 in the last quarter. Insiders own 2.10% of the company’s stock.

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.