Ellsworth Advisors LLC Grows Holdings in Iron Mountain Incorporated (NYSE:IRM)

Ellsworth Advisors LLC boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,978 shares of the financial services provider’s stock after acquiring an additional 349 shares during the period. Ellsworth Advisors LLC’s holdings in Iron Mountain were worth $2,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IRM. OneDigital Investment Advisors LLC raised its stake in shares of Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 92 shares during the last quarter. Geller Advisors LLC raised its holdings in shares of Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares during the period. Schmidt P J Investment Management Inc. lifted its position in shares of Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after buying an additional 100 shares during the last quarter. Finally, Claro Advisors LLC grew its holdings in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after purchasing an additional 103 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,874,874. The trade was a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

IRM has been the topic of several recent research reports. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Barclays dropped their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Trading Down 1.0 %

Shares of NYSE:IRM opened at $109.19 on Monday. Iron Mountain Incorporated has a twelve month low of $65.01 and a twelve month high of $130.24. The firm has a market cap of $32.04 billion, a P/E ratio of 303.31, a P/E/G ratio of 5.56 and a beta of 1.02. The company has a 50 day moving average of $111.35 and a 200-day moving average of $111.88.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is currently 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.