Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lessened its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,604 shares of the financial services provider's stock after selling 10,378 shares during the period. Salem Investment Counselors Inc.'s holdings in Iron Mountain were worth $8,270,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Iron Mountain during the 3rd quarter valued at about $31,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $36,000. Dunhill Financial LLC boosted its holdings in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock valued at $54,000 after buying an additional 152 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider's stock valued at $59,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction 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 sale, the executive vice president now owns 13,054 shares of the company's stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction 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 in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $1.07 during trading on Monday, hitting $102.23. 1,921,505 shares of the stock traded hands, compared to its average volume of 2,122,515. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market cap of $30.00 billion, a price-to-earnings ratio of 283.98, a P/E/G ratio of 6.70 and a beta of 1.02. The company has a fifty day moving average price of $112.30 and a two-hundred day moving average price of $111.40. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is 794.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IRM shares. Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their target price 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. Barclays lowered their target price on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, November 18th. Finally, BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $131.00.

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.