Raleigh Capital Management Inc. Trims Position in Iron Mountain Incorporated (NYSE:IRM)

Raleigh Capital Management Inc. lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,532 shares of the financial services provider’s stock after selling 771 shares during the period. Raleigh Capital Management Inc.’s holdings in Iron Mountain were worth $371,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at $36,000. Dunhill Financial LLC increased its holdings in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the last quarter. Finally, Quarry LP raised its position in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after buying an additional 230 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.8 %

Shares of NYSE:IRM opened at $110.05 on Thursday. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 305.71, a price-to-earnings-growth ratio of 6.10 and a beta of 1.02. The company has a 50 day moving average of $111.00 and a two-hundred day moving average of $112.12. Iron Mountain Incorporated has a 52-week low of $66.20 and a 52-week high of $130.24.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Wall Street Analyst Weigh In

IRM has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective 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. Finally, Barclays cut 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 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, the company presently has an average rating of “Buy” and an average price target of $131.00.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Friday, November 8th. The shares were 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 directly owns 295,650 shares of the company’s stock, valued at $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 in the last quarter. Company 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.