Asset Planning Inc Makes New $315,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Asset Planning Inc purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the financial services provider’s stock, valued at approximately $315,000.

Several other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Iron Mountain by 537.0% during the third 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 boosted its stake in 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 valued at $61,613,000 after acquiring an additional 495,898 shares during the period. International Assets Investment Management LLC boosted its stake in 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 acquiring an additional 445,207 shares during the period. abrdn plc raised its holdings in shares of Iron Mountain by 88.2% during the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock valued at $73,770,000 after buying an additional 293,425 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Iron Mountain by 10,432.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after buying an additional 240,261 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on IRM shares. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays reduced their price objective 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, January 28th. Royal Bank of Canada upped their price objective 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. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.17.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $95.20 on Friday. Iron Mountain Incorporated has a 52-week low of $66.86 and a 52-week high of $130.24. The firm has a 50 day moving average price of $105.94 and a two-hundred day moving average price of $112.73. The stock has a market cap of $27.94 billion, a P/E ratio of 264.44, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.30%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Company 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.