Hennion & Walsh Asset Management Inc. Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Hennion & Walsh Asset Management Inc. reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,845 shares of the financial services provider's stock after selling 5,219 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Iron Mountain were worth $7,341,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of IRM. Geode Capital Management LLC raised its holdings in Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock valued at $978,479,000 after buying an additional 128,622 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Iron Mountain by 49.2% during the second 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider's stock worth $402,396,000 after purchasing an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Iron Mountain by 537.0% in 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 worth $376,756,000 after purchasing an additional 2,672,821 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in 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 purchasing an additional 402,625 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on IRM shares. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective 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. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Finally, Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, November 18th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $131.00.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,872 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is owned by insiders.

Iron Mountain Trading Up 3.8 %

NYSE:IRM traded up $3.99 during mid-day trading on Thursday, reaching $110.17. The company's stock had a trading volume of 1,832,214 shares, compared to its average volume of 1,970,270. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24. The firm's fifty day moving average price is $111.70 and its two-hundred day moving average price is $111.46. The stock has a market cap of $32.33 billion, a P/E ratio of 306.02, a PEG ratio of 5.56 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is presently 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.