Kessler Investment Group LLC Sells 488 Shares of Iron Mountain Incorporated (NYSE:IRM)

Kessler Investment Group LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,794 shares of the financial services provider’s stock after selling 488 shares during the quarter. Kessler Investment Group LLC’s holdings in Iron Mountain were worth $1,240,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after buying an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after buying an additional 445,207 shares during the last quarter. abrdn plc boosted its holdings in shares of Iron Mountain by 88.2% in the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after buying an additional 293,425 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Iron Mountain by 10,432.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after buying an additional 240,261 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 three months, insiders have sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.1 %

Shares of Iron Mountain stock opened at $95.34 on Friday. The company’s 50-day moving average price is $105.45 and its 200-day moving average price is $112.70. The company has a market cap of $27.98 billion, a price-to-earnings ratio of 264.85, a PEG ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.29%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is 794.47%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IRM shares. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. 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 report on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. 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 report on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

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.