Twelve Points Wealth Management LLC Trims Holdings in Iron Mountain Incorporated (NYSE:IRM)

Twelve Points Wealth Management LLC lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 23.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,404 shares of the financial services provider’s stock after selling 748 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Iron Mountain were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Iron Mountain by 537.0% during the 3rd 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 buying an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after acquiring an additional 495,898 shares during the last quarter. International Assets Investment Management LLC increased its holdings in 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 valued at $53,312,000 after acquiring an additional 445,207 shares during the last quarter. abrdn plc lifted its stake in Iron Mountain by 88.2% in the 3rd 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 in the last quarter. Finally, KBC Group NV grew its position in shares of Iron Mountain by 368.4% during the third 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 in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IRM shares. Barclays decreased their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price objective 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. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $130.83.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 of the company’s stock, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.8 %

Shares of IRM opened at $100.56 on Thursday. Iron Mountain Incorporated has a twelve month low of $66.20 and a twelve month high of $130.24. The company’s fifty day simple moving average is $109.98 and its 200-day simple moving average is $112.50. The company has a market cap of $29.51 billion, a P/E ratio of 279.34, a P/E/G ratio of 6.05 and a beta of 1.02.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.84%. The ex-dividend date was Monday, December 16th. Iron Mountain’s payout ratio is currently 794.47%.

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.