Ibex Wealth Advisors Purchases New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Ibex Wealth Advisors bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,908 shares of the financial services provider's stock, valued at approximately $831,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 purchasing an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC lifted its position in shares of Iron Mountain by 2,193.9% during the 3rd 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 last quarter. International Assets Investment Management LLC grew its holdings 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 during the last quarter. abrdn plc raised its position 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 worth $73,770,000 after purchasing an additional 293,425 shares during the period. Finally, KBC Group NV boosted its position in shares of 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 purchasing an additional 240,195 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. 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 note on Wednesday, November 27th. StockNews.com cut shares of Iron Mountain from a "hold" rating to a "sell" rating in a research report on Tuesday. Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $130.83.

Iron Mountain Price Performance

NYSE:IRM traded up $2.22 during mid-day trading on Thursday, reaching $102.83. The stock had a trading volume of 441,668 shares, compared to its average volume of 1,938,290. The stock has a market cap of $30.18 billion, a P/E ratio of 285.34, a PEG ratio of 6.05 and a beta of 1.02. Iron Mountain Incorporated has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The business's 50 day moving average is $109.98 and its 200 day moving average is $112.50.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain's dividend payout ratio is presently 794.44%.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares of the company's stock, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 over the last three months. 2.10% of the stock is currently owned by insiders.

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.