Pathway Financial Advisers LLC Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Pathway Financial Advisers LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,619 shares of the financial services provider’s stock after selling 106 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Iron Mountain were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in IRM. PNC Financial Services Group Inc. raised its holdings in Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at about $824,000. Merit Financial Group LLC lifted 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 purchasing an additional 7,137 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Iron Mountain by 254.1% during the third 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 last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM opened at $102.85 on Thursday. The firm has a fifty day moving average of $106.40 and a 200-day moving average of $112.85. The company has a market cap of $30.18 billion, a price-to-earnings ratio of 285.70, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24.

Iron Mountain Increases Dividend

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

Analyst Upgrades and Downgrades

IRM has been the topic of several research reports. Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased 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. Finally, StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.17.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the 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 transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on 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. Over the last 90 days, insiders have sold 162,391 shares of company stock worth $16,805,912. 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.