Hennion & Walsh Asset Management Inc. Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Hennion & Walsh Asset Management Inc. reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 7.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,845 shares of the financial services provider’s stock after selling 5,219 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Iron Mountain were worth $7,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IRM. Federated Hermes Inc. increased its stake in Iron Mountain by 1.2% during the second quarter. Federated Hermes Inc. now owns 50,547 shares of the financial services provider’s stock worth $4,530,000 after acquiring an additional 614 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Iron Mountain by 8.2% during the 2nd quarter. Parallel Advisors LLC now owns 3,217 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 243 shares during the last quarter. Edgestream Partners L.P. raised its holdings in Iron Mountain by 147.8% during the 2nd quarter. Edgestream Partners L.P. now owns 56,679 shares of the financial services provider’s stock valued at $5,080,000 after buying an additional 33,803 shares during the period. Axxcess Wealth Management LLC bought a new stake in Iron Mountain in the second quarter worth $1,043,000. Finally, True Vision MN LLC purchased a new position in Iron Mountain during the second quarter worth $367,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Iron Mountain Stock Performance

Iron Mountain stock opened at $105.01 on Thursday. The company has a market capitalization of $30.82 billion, a PE ratio of 291.70, a P/E/G ratio of 5.56 and a beta of 1.02. The company has a 50 day moving average price of $111.70 and a 200-day moving average price of $111.46. Iron Mountain Incorporated has a fifty-two week low of $64.68 and a fifty-two week high of $130.24.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, 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 sold a total of 125,016 shares of company stock worth $13,666,427 over the last 90 days. Company 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.