Kingsview Wealth Management LLC Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Kingsview Wealth Management LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,833 shares of the financial services provider’s stock after selling 634 shares during the period. Kingsview Wealth Management LLC’s holdings in Iron Mountain were worth $693,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. AGF Management Ltd. lifted its stake in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares during the period. International Assets Investment Management LLC grew its stake in shares of Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after buying an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. The Goldman Sachs Group raised their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. raised their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $131.00.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock worth $6,613,584 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Shares of IRM stock opened at $124.24 on Thursday. The firm has a market cap of $36.46 billion, a P/E ratio of 344.90, a P/E/G ratio of 7.26 and a beta of 0.99. The firm has a fifty day moving average of $120.06 and a two-hundred day moving average of $105.26. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 1-year low of $62.95 and a 1-year high of $130.24.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Iron Mountain Profile

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.