Hartford Investment Management Co. Lowers Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Hartford Investment Management Co. lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,186 shares of the financial services provider’s stock after selling 449 shares during the period. Hartford Investment Management Co.’s holdings in Iron Mountain were worth $1,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain during the 3rd quarter valued at $31,000. West Branch Capital LLC bought a new stake in Iron Mountain during the third quarter valued at $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC increased its stake in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in shares of Iron Mountain in the 4th quarter valued at about $55,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $95.20 on Friday. Iron Mountain Incorporated has a fifty-two week low of $66.86 and a fifty-two week high of $130.24. The firm has a market cap of $27.94 billion, a price-to-earnings ratio of 264.44, a PEG ratio of 5.84 and a beta of 1.01. The firm has a 50 day moving average price of $105.94 and a 200-day moving average price of $112.73.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.30%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 794.47%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IRM shares. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Barclays cut their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.17.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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. Over the last three months, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by 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.