Iron Mountain Incorporated (NYSE:IRM) Position Cut by Guardian Asset Advisors LLC

Guardian Asset Advisors LLC lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 11,441 shares of the financial services provider’s stock after selling 323 shares during the period. Guardian Asset Advisors LLC’s holdings in Iron Mountain were worth $1,203,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Iron Mountain during the 3rd quarter worth $31,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain during the 3rd quarter worth about $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $36,000. Dunhill Financial LLC boosted its holdings in shares of Iron Mountain by 50.5% in the third 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 in the last quarter. Finally, Oakworth Capital Inc. acquired a new position in shares of Iron Mountain during the fourth quarter valued at approximately $55,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 3.2 %

NYSE IRM opened at $102.85 on Thursday. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24. The stock’s 50-day moving average price is $106.40 and its two-hundred day moving average price is $112.85. The company has a market cap of $30.18 billion, a PE ratio of 285.70, a PEG ratio of 5.84 and a beta of 1.01.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.05%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of research analyst reports. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Barclays dropped their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was 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 of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock valued at $16,805,912 over the last three months. 2.10% of the stock is owned by corporate insiders.

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.