Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain during the third quarter worth about $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC boosted its holdings in Iron Mountain by 50.5% in 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 in the last quarter. Finally, Quarry LP boosted its stake in shares of Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded down $0.20 during trading hours on Monday, hitting $100.96. The stock had a trading volume of 461,005 shares, compared to its average volume of 1,909,892. The stock’s fifty day simple moving average is $112.71 and its 200 day simple moving average is $111.31. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $29.63 billion, a price-to-earnings ratio of 280.45, a PEG 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.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.44%.

Analysts Set New Price Targets

Several brokerages recently issued reports on IRM. Barclays cut their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. 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. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average price target of $131.00.

Insider Activity

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’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 transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 over the last three months. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

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.