Ibex Wealth Advisors Invests $831,000 in Iron Mountain Incorporated (NYSE:IRM)

Ibex Wealth Advisors purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 7,908 shares of the financial services provider’s stock, valued at approximately $831,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter worth $31,000. West Branch Capital LLC acquired a new stake in Iron Mountain during the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC raised its stake in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the period. Finally, Quarry LP boosted its holdings in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $100.56 on Thursday. The firm’s 50-day moving average is $109.98 and its two-hundred day moving average is $112.50. Iron Mountain Incorporated has a 1 year low of $66.20 and a 1 year high of $130.24. The firm has a market capitalization of $29.51 billion, a PE ratio of 279.34, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. 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 2.84%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Analyst Ratings Changes

Several analysts have recently commented on IRM shares. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted 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. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Barclays lowered 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 note on Tuesday. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last 90 days. 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.