Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 215,147 shares of the financial services provider’s stock after selling 9,456 shares during the period. Moran Wealth Management LLC’s holdings in Iron Mountain were worth $25,566,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Legal & General Group Plc increased its position in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. increased its stake in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Iron Mountain by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Iron Mountain by 5.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,182,515 shares of the financial services provider’s stock worth $105,348,000 after buying an additional 56,503 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This trade 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 this link. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 in the last three months. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IRM shares. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays reduced their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus increased their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average target price of $129.40.

Iron Mountain Stock Performance

Iron Mountain stock traded down $0.81 during midday trading on Wednesday, hitting $115.70. 70,470 shares of the company’s stock were exchanged, compared to its average volume of 1,595,097. The firm’s 50 day simple moving average is $119.72 and its 200 day simple moving average is $103.81. Iron Mountain Incorporated has a 12-month low of $62.56 and a 12-month high of $130.24. The stock has a market cap of $33.95 billion, a price-to-earnings ratio of 323.61, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

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.