Janney Montgomery Scott LLC Lowers Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Janney Montgomery Scott LLC trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 19.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,013 shares of the financial services provider's stock after selling 21,297 shares during the quarter. Janney Montgomery Scott LLC's holdings in Iron Mountain were worth $10,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of IRM. Nordea Investment Management AB increased its holdings in shares of Iron Mountain by 17.2% in the 1st quarter. Nordea Investment Management AB now owns 24,524 shares of the financial services provider's stock valued at $1,972,000 after acquiring an additional 3,596 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Iron Mountain by 196.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,681 shares of the financial services provider's stock valued at $375,000 after buying an additional 3,102 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Iron Mountain by 69.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,552 shares of the financial services provider's stock worth $2,050,000 after buying an additional 10,461 shares during the period. Empowered Funds LLC grew its holdings in Iron Mountain by 80.6% during the 1st quarter. Empowered Funds LLC now owns 116,198 shares of the financial services provider's stock valued at $9,320,000 after buying an additional 51,858 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Iron Mountain by 352.4% in the 1st quarter. SG Americas Securities LLC now owns 139,565 shares of the financial services provider's stock worth $11,195,000 after purchasing an additional 108,712 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Barclays upped their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $129.80.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded up $2.87 on Friday, reaching $119.79. 555,970 shares of the stock were exchanged, compared to its average volume of 1,605,892. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a one year low of $58.55 and a one year high of $130.24. The firm has a market cap of $35.14 billion, a PE ratio of 149.96, a P/E/G ratio of 7.33 and a beta of 0.99. The firm's 50 day moving average is $119.08 and its 200-day moving average is $101.28.

Iron Mountain Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is currently 366.67%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company's stock, valued at approximately $1,725,799.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock valued at $3,210,575 in the last three months. Company insiders own 2.10% of the company's stock.

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.