Smith Group Asset Management LLC Takes $1.05 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Smith Group Asset Management LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the financial services provider’s stock, valued at approximately $1,051,000.

A number of other hedge funds also recently bought and sold shares of IRM. PNC Financial Services Group Inc. raised its position in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after buying an additional 1,446 shares in the last quarter. Friedenthal Financial bought a new position in shares of Iron Mountain in the third quarter worth about $824,000. Merit Financial Group LLC increased its position in shares of Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC increased its holdings in Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain in the third quarter valued at about $24,122,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 5.2 %

Iron Mountain stock opened at $98.53 on Wednesday. The stock has a 50-day moving average price of $110.29 and a 200 day moving average price of $112.58. The company has a market capitalization of $28.92 billion, a price-to-earnings ratio of 273.71, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24.

Iron Mountain Dividend Announcement

The firm 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 2.90%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price objective 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 decreased their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday. 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. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock worth $13,666,427 over the last 90 days. 2.10% of the stock is currently 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.