Inspire Trust Co. N.A. Sells 559 Shares of Iron Mountain Incorporated (NYSE:IRM)

Inspire Trust Co. N.A. cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,000 shares of the financial services provider’s stock after selling 559 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Iron Mountain were worth $1,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the third quarter valued at about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain in the 3rd quarter valued at $36,000. Finally, Family Firm Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter valued at $45,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research analyst reports. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays dropped their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus raised their target price 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. Wells Fargo & Company boosted 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. Finally, Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Six research 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 company currently has an average rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Stock Down 0.2 %

Shares of NYSE:IRM opened at $112.92 on Friday. The stock has a market capitalization of $33.14 billion, a P/E ratio of 313.68, a price-to-earnings-growth ratio of 6.77 and a beta of 0.98. The stock’s 50-day moving average price is $120.31 and its 200-day moving average price is $108.06. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $64.68 and a 12-month high of $130.24.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.53%. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Insider Buying and Selling at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,997 shares of company stock worth $8,406,961. 2.10% of the stock is currently owned by insiders.

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.