By otakuyassine3@gmail.com 
Stock Yards Bank & Trust Co. trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,811 shares of the financial services provider’s stock after selling 1,457 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Iron Mountain were worth $2,713,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC raised its position in shares of Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after acquiring an additional 495,898 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after acquiring an additional 445,207 shares in the last quarter. abrdn plc raised its position in shares of Iron Mountain by 88.2% in the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after acquiring an additional 293,425 shares in the last quarter. Finally, KBC Group NV increased its position in Iron Mountain by 368.4% in the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after buying an additional 240,195 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.
Insiders Place Their Bets
In other 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 transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % 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. 2.10% of the stock is owned by corporate insiders.
Iron Mountain Stock Down 0.6 %
NYSE IRM opened at $101.37 on Monday. The firm has a market capitalization of $29.75 billion, a price-to-earnings ratio of 281.58, a PEG ratio of 5.58 and a beta of 1.01. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24. The company has a fifty day moving average of $109.28 and a two-hundred day moving average of $112.63.
Iron Mountain Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.
Analysts Set New Price Targets
A number of analysts have commented on the company. Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Royal Bank of Canada upped their price target 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. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.83.
Get Our Latest Report on Iron Mountain
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.
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