Safe Harbor Fiduciary LLC Acquires Shares of 20,549 Iron Mountain Incorporated (NYSE:IRM)

Safe Harbor Fiduciary LLC bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,549 shares of the financial services provider's stock, valued at approximately $2,442,000. Iron Mountain makes up 2.3% of Safe Harbor Fiduciary LLC's holdings, making the stock its 10th largest position.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain in the second quarter worth $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the third quarter valued at $33,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the 3rd quarter worth about $36,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain in the 2nd quarter worth about $45,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was 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 directly owns 295,650 shares of the company's stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

IRM stock traded down $0.60 during midday trading on Thursday, hitting $118.26. The company's stock had a trading volume of 874,647 shares, compared to its average volume of 1,587,208. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $64.66 and a 12 month high of $130.24. The company has a 50 day moving average of $120.66 and a two-hundred day moving average of $106.82. The firm has a market capitalization of $34.70 billion, a price-to-earnings ratio of 327.97, a price-to-earnings-growth ratio of 7.19 and a beta of 0.98.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. Iron Mountain's dividend payout ratio is currently 794.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IRM shares. Barclays decreased their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, November 18th. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research 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 report on Thursday, October 17th. Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $131.00.

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.