Southland Equity Partners LLC Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Southland Equity Partners LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,391 shares of the financial services provider’s stock after selling 541 shares during the quarter. Southland Equity Partners LLC’s holdings in Iron Mountain were worth $356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $36,000. Dunhill Financial LLC increased its holdings in shares of 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 acquiring an additional 152 shares during the period. Finally, Quarry LP increased its holdings in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.1 %

Shares of IRM stock opened at $111.23 on Friday. The stock has a market cap of $32.64 billion, a PE ratio of 308.98, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02. The business has a 50-day simple moving average of $110.96 and a 200-day simple moving average of $112.11. Iron Mountain Incorporated has a 52-week low of $66.20 and a 52-week high of $130.24.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.57%. Iron Mountain’s payout ratio is 794.47%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IRM. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Barclays dropped their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus price target of $131.00.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value 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 $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 available at this link. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is owned by company insiders.

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.