Foresight Capital Management Advisors Inc. Has $9.18 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Foresight Capital Management Advisors Inc. lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,303 shares of the financial services provider’s stock after selling 7,746 shares during the quarter. Iron Mountain comprises 5.4% of Foresight Capital Management Advisors Inc.’s portfolio, making the stock its 3rd biggest holding. Foresight Capital Management Advisors Inc.’s holdings in Iron Mountain were worth $9,176,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IRM. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter worth $33,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain during the 3rd quarter worth $36,000. Dunhill Financial LLC increased its stake in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares during the period. Finally, Quarry LP raised its holdings in shares of Iron Mountain by 86.5% in the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The shares were 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 owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,016 shares of company stock worth $13,666,427. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays reduced their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report 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 stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Stock Up 1.8 %

IRM stock opened at $105.95 on Thursday. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24. The company’s 50-day simple moving average is $111.70 and its 200-day simple moving average is $111.46. The firm has a market cap of $31.09 billion, a P/E ratio of 294.31, a PEG ratio of 5.56 and a beta of 1.02.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

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.