Belpointe Asset Management LLC Buys 787 Shares of Iron Mountain Incorporated (NYSE:IRM)

Belpointe Asset Management LLC boosted its stake in Iron Mountain Incorporated (NYSE:IRMFree Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,033 shares of the financial services provider’s stock after purchasing an additional 787 shares during the period. Belpointe Asset Management LLC’s holdings in Iron Mountain were worth $562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Iron Mountain during the fourth quarter worth $16,590,000. Handelsbanken Fonder AB raised its stake in Iron Mountain by 42.3% during the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock worth $11,343,000 after buying an additional 48,170 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Iron Mountain by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after buying an additional 27,551 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Iron Mountain by 16.4% during the fourth quarter. Hsbc Holdings PLC now owns 419,721 shares of the financial services provider’s stock worth $29,402,000 after buying an additional 59,135 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Mark Kidd sold 4,458 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now directly owns 62,938 shares in the company, valued at $5,048,256.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $23,956,519.50. The disclosure for this sale can be found here. Insiders sold a total of 45,255 shares of company stock valued at $3,562,055 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Barclays lifted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

View Our Latest Research Report on IRM

Iron Mountain Trading Up 1.5 %

NYSE:IRM opened at $82.34 on Thursday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average of $78.60 and a 200-day moving average of $73.14. The company has a market cap of $24.14 billion, a PE ratio of 124.76, a PEG ratio of 4.86 and a beta of 0.95. Iron Mountain Incorporated has a one year low of $53.74 and a one year high of $83.00.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, June 17th. Iron Mountain’s payout ratio is presently 393.95%.

Iron Mountain Profile

(Free Report)

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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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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