Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,041 shares of the financial services provider’s stock after selling 184 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Iron Mountain were worth $480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter worth $31,000. West Branch Capital LLC purchased a new position in shares of Iron Mountain during the 3rd quarter worth $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain during the 2nd quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter worth $36,000. Finally, Family Firm Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter worth $45,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,125 shares of company stock worth $6,613,584. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Trading Up 2.4 %

IRM opened at $119.14 on Friday. The business’s 50 day moving average is $119.82 and its two-hundred day moving average is $104.00. Iron Mountain Incorporated has a 52 week low of $62.58 and a 52 week high of $130.24. The firm has a market cap of $34.96 billion, a price-to-earnings ratio of 330.94, a price-to-earnings-growth ratio of 6.98 and a beta of 0.99. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.40%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Analyst Ratings Changes

A number of equities analysts recently commented on IRM shares. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and a consensus price target of $129.40.

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.