Archer Investment Corp Sells 2,200 Shares of Iron Mountain Incorporated (NYSE:IRM)

Archer Investment Corp lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,800 shares of the financial services provider’s stock after selling 2,200 shares during the period. Archer Investment Corp’s holdings in Iron Mountain were worth $927,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Headlands Technologies LLC bought a new position in shares of Iron Mountain during the 1st quarter valued at about $38,000. Koshinski Asset Management Inc. raised its position in shares of Iron Mountain by 27.2% during the 1st quarter. Koshinski Asset Management Inc. now owns 5,310 shares of the financial services provider’s stock valued at $426,000 after buying an additional 1,135 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after buying an additional 7,486 shares in the last quarter. HBK Sorce Advisory LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at about $217,000. Finally, Centersquare Investment Management LLC raised its position in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.5 %

Iron Mountain stock traded up $0.58 during midday trading on Friday, reaching $113.70. The stock had a trading volume of 163,297 shares, compared to its average volume of 1,599,255. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52-week low of $61.59 and a 52-week high of $130.24. The firm has a market cap of $33.37 billion, a price-to-earnings ratio of 314.34, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99. The company has a fifty day moving average of $119.46 and a 200 day moving average of $102.63.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on 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 directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus upped their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays increased their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Five research 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.com, Iron Mountain presently has an average rating of “Buy” and an average target price of $129.80.

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.