Wealth Enhancement Advisory Services LLC Sells 9,905 Shares of Iron Mountain Incorporated (NYSE:IRM)

Wealth Enhancement Advisory Services LLC decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,283 shares of the financial services provider’s stock after selling 9,905 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Iron Mountain were worth $8,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRM. International Assets Investment Management LLC bought a new position in Iron Mountain during the 4th quarter worth approximately $16,590,000. Goldman Sachs Group Inc. boosted its position in shares of Iron Mountain by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after purchasing an additional 59,381 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Iron Mountain by 42.3% in the 4th quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock valued at $11,343,000 after buying an additional 48,170 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Iron Mountain by 6.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock valued at $30,637,000 after buying an additional 27,551 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $89.62 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $55.02 and a twelve month high of $90.40. The stock has a market capitalization of $26.27 billion, a P/E ratio of 135.79, a P/E/G ratio of 5.28 and a beta of 0.95. The company has a 50 day moving average of $82.25 and a 200-day moving average of $75.99.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.90%. Iron Mountain’s payout ratio is currently 393.95%.

Insider Activity

In related news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the transaction, the director now directly owns 35,166 shares in the company, valued at approximately $2,860,050.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. Insiders sold 104,511 shares of company stock worth $8,787,218 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Barclays boosted their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, The Goldman Sachs Group raised their target price on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.33.

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.