Aberdeen Wealth Management LLC Lowers Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Aberdeen Wealth Management LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 8.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,645 shares of the financial services provider’s stock after selling 232 shares during the period. Aberdeen Wealth Management LLC’s holdings in Iron Mountain were worth $314,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC raised its stake in Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after buying an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. raised its position in shares of Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after buying an additional 100 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of Iron Mountain by 0.6% in the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 103 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in shares of Iron Mountain by 2.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 107 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on IRM shares. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays decreased their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Wells Fargo & Company raised their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and an average target price of $129.40.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.5 %

Shares of IRM opened at $115.50 on Tuesday. The company’s fifty day simple moving average is $119.68 and its 200-day simple moving average is $103.52. The company has a market cap of $33.89 billion, a P/E ratio of 320.83, a P/E/G ratio of 6.88 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $61.80 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is currently 794.44%.

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.