Royal Fund Management LLC Sells 12,849 Shares of Iron Mountain Incorporated (NYSE:IRM)

Royal Fund Management LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 49.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,177 shares of the financial services provider’s stock after selling 12,849 shares during the period. Royal Fund Management LLC’s holdings in Iron Mountain were worth $1,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ballentine Partners LLC lifted its position in Iron Mountain by 7.2% in the fourth quarter. Ballentine Partners LLC now owns 5,781 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 388 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Iron Mountain by 397.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 6,936 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 5,541 shares during the period. Community Bank of Raymore raised its stake in shares of Iron Mountain by 11.3% during the fourth quarter. Community Bank of Raymore now owns 16,496 shares of the financial services provider’s stock valued at $1,734,000 after acquiring an additional 1,681 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Iron Mountain in the fourth quarter worth about $244,000. Finally, Terra Nova Asset Management LLC increased its holdings in Iron Mountain by 0.6% during the 4th quarter. Terra Nova Asset Management LLC now owns 32,890 shares of the financial services provider’s stock valued at $3,457,000 after purchasing an additional 206 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Price Performance

Shares of IRM stock opened at $109.19 on Tuesday. The company’s fifty day moving average price is $111.19 and its 200-day moving average price is $112.00. Iron Mountain Incorporated has a one year low of $65.01 and a one year high of $130.24. The company has a market capitalization of $32.04 billion, a price-to-earnings ratio of 303.31, a PEG ratio of 6.01 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm 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. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.62%. Iron Mountain’s payout ratio is currently 794.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company lifted 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. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Barclays dropped their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $131.00.

Insider Activity

In other 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 transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is currently owned by corporate insiders.

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.