Naples Global Advisors LLC Sells 200 Shares of Iron Mountain Incorporated (NYSE:IRM)

Naples Global Advisors LLC lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,250 shares of the financial services provider’s stock after selling 200 shares during the period. Naples Global Advisors LLC’s holdings in Iron Mountain were worth $238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRM. Exchange Traded Concepts LLC lifted its position in Iron Mountain by 4,950.0% in the third quarter. Exchange Traded Concepts LLC now owns 3,636 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 3,564 shares during the last quarter. Creative Planning increased its stake in shares of Iron Mountain by 2.2% during the third quarter. Creative Planning now owns 98,905 shares of the financial services provider’s stock valued at $11,753,000 after buying an additional 2,083 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $535,000. Good Life Advisors LLC increased its stake in shares of Iron Mountain by 58.9% during the third quarter. Good Life Advisors LLC now owns 3,646 shares of the financial services provider’s stock valued at $433,000 after buying an additional 1,352 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in shares of Iron Mountain by 45.8% during the third quarter. Bleakley Financial Group LLC now owns 22,987 shares of the financial services provider’s stock valued at $2,732,000 after buying an additional 7,221 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.1 %

NYSE IRM opened at $95.34 on Friday. Iron Mountain Incorporated has a 12 month low of $67.09 and a 12 month high of $130.24. The stock has a market cap of $27.98 billion, a P/E ratio of 264.85, a P/E/G ratio of 5.84 and a beta of 1.01. The stock’s fifty day moving average price is $105.45 and its 200-day moving average price is $112.70.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the 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 sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,391 shares of company stock valued at $16,805,912. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the topic of several research analyst reports. Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. 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 note on Wednesday, November 27th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

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.