Ellsworth Advisors LLC Has $2.63 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Ellsworth Advisors LLC lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,978 shares of the financial services provider’s stock after purchasing an additional 349 shares during the quarter. Ellsworth Advisors LLC’s holdings in Iron Mountain were worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after buying an additional 1,446 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Iron Mountain during the third quarter worth $824,000. Tidal Investments LLC boosted its position in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 14,737 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Iron Mountain in the third quarter valued at about $24,122,000. Finally, World Investment Advisors LLC acquired a new position in Iron Mountain in the 3rd quarter worth about $554,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock worth $13,666,427 over the last three months. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays reduced their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $109.19 on Monday. Iron Mountain Incorporated has a 52-week low of $65.01 and a 52-week high of $130.24. The company has a market cap of $32.04 billion, a P/E ratio of 303.31, a P/E/G ratio of 5.56 and a beta of 1.02. The stock’s 50-day moving average is $111.35 and its 200-day moving average is $111.88.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.62%. The ex-dividend date was Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

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.