Stifel Financial Corp Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Stifel Financial Corp lessened its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 27.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 279,961 shares of the financial services provider's stock after selling 106,556 shares during the quarter. Stifel Financial Corp owned about 0.10% of Iron Mountain worth $33,268,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

IRM has been the subject of a number of analyst reports. Barclays dropped their price target on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Finally, 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Iron Mountain has an average rating of "Buy" and an average target price of $131.00.

Iron Mountain Trading Up 1.5 %

IRM stock traded up $1.79 during mid-day trading on Friday, hitting $120.16. 1,131,812 shares of the company were exchanged, compared to its average volume of 1,331,495. Iron Mountain Incorporated has a 12-month low of $64.66 and a 12-month high of $130.24. The firm has a market capitalization of $35.26 billion, a P/E ratio of 333.79, a PEG ratio of 7.12 and a beta of 0.98. The business has a fifty day simple moving average of $120.76 and a 200-day simple moving average of $107.33. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.38%. Iron Mountain's payout ratio is currently 794.47%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the firm's stock in a transaction dated 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 owns 14,829 shares of the company's stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,125 shares of company stock worth $6,613,584. Insiders own 2.10% of the company's stock.

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.