Salem Investment Counselors Inc. Sells 10,378 Shares of Iron Mountain Incorporated (NYSE:IRM)

Salem Investment Counselors Inc. cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,604 shares of the financial services provider’s stock after selling 10,378 shares during the period. Salem Investment Counselors Inc.’s holdings in Iron Mountain were worth $8,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Iron Mountain during the 3rd quarter valued at about $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain during the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the 3rd quarter valued at about $36,000. Dunhill Financial LLC grew its stake in 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 purchasing an additional 152 shares during the last quarter. Finally, Quarry LP grew its stake in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on IRM. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Royal Bank of Canada increased their target price on 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 Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays reduced their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $131.00.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This trade represents a 5.10 % 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 ninety days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 0.2 %

Iron Mountain stock traded down $0.20 during mid-day trading on Monday, hitting $100.96. The company’s stock had a trading volume of 461,005 shares, compared to its average volume of 1,909,892. The firm has a market capitalization of $29.63 billion, a PE ratio of 280.45, a price-to-earnings-growth ratio of 6.70 and a beta of 1.02. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock’s fifty day moving average is $112.71 and its two-hundred day moving average is $111.31.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were given a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.83%. Iron Mountain’s dividend payout ratio is currently 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.