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

Kessler Investment Group LLC lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm 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 quarter.

A number of other institutional investors have also recently made changes to their positions in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Iron Mountain by 537.0% during the third 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 valued at $376,756,000 after purchasing an additional 2,672,821 shares during the period. Mizuho Securities USA LLC boosted its stake in shares of Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after purchasing an additional 495,898 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Iron Mountain by 12,953.4% during the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after purchasing an additional 445,207 shares during the period. abrdn plc boosted its stake in shares of Iron Mountain by 88.2% during the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock valued at $73,770,000 after purchasing an additional 293,425 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Iron Mountain by 10,432.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 240,261 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’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 transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was 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. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 0.1 %

Iron Mountain stock opened at $95.34 on Friday. The business has a 50-day simple moving average of $105.45 and a two-hundred day simple moving average of $112.70. The company has a market cap of $27.98 billion, a P/E ratio of 264.85, a P/E/G ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 52-week low of $67.09 and a 52-week high of $130.24.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost 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 3.29%. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is presently 794.47%.

Analyst Ratings Changes

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

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.