EP Wealth Advisors LLC Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

EP Wealth Advisors LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 5.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,797 shares of the financial services provider’s stock after selling 761 shares during the period. EP Wealth Advisors LLC’s holdings in Iron Mountain were worth $1,640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the 3rd quarter valued at about $36,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain during the 2nd quarter worth about $32,000. Finally, Quarry LP grew its holdings in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

NYSE IRM opened at $114.35 on Tuesday. The firm has a market capitalization of $33.56 billion, a P/E ratio of 317.64, a P/E/G ratio of 7.20 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Incorporated has a 1-year low of $64.68 and a 1-year high of $130.24. The business’s 50-day simple moving average is $120.67 and its 200-day simple moving average is $107.77.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.50%. Iron Mountain’s payout ratio is 794.44%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of analyst reports. Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $131.00.

Iron Mountain 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.