Southland Equity Partners LLC Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Southland Equity Partners LLC trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 13.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,391 shares of the financial services provider’s stock after selling 541 shares during the period. Southland Equity Partners LLC’s holdings in Iron Mountain were worth $356,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Secure Asset Management LLC grew its position in Iron Mountain by 2.4% in the fourth quarter. Secure Asset Management LLC now owns 5,358 shares of the financial services provider’s stock worth $563,000 after acquiring an additional 127 shares during the period. Wesbanco Bank Inc. grew its position in Iron Mountain by 17.4% in the fourth quarter. Wesbanco Bank Inc. now owns 2,329 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 345 shares during the period. Janney Montgomery Scott LLC grew its position in Iron Mountain by 4.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 92,363 shares of the financial services provider’s stock worth $9,708,000 after acquiring an additional 4,350 shares during the period. Aspire Private Capital LLC grew its position in Iron Mountain by 2.7% in the fourth quarter. Aspire Private Capital LLC now owns 9,638 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 255 shares during the period. Finally, Atomi Financial Group Inc. grew its position in Iron Mountain by 6.6% in the fourth quarter. Atomi Financial Group Inc. now owns 4,559 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 283 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays decreased their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. 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 note on Wednesday, November 27th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Six 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 Up 1.1 %

NYSE:IRM opened at $111.23 on Friday. The firm has a market cap of $32.64 billion, a PE ratio of 308.98, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02. The stock has a fifty day moving average price of $110.96 and a 200 day moving average price of $112.11. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.57%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of Iron Mountain 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,016 shares of company stock worth $13,666,427. Company insiders own 2.10% of the company’s stock.

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.