Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.2% during the third quarter, Holdings Channel reports. The firm owned 14,273 shares of the financial services provider’s stock after selling 1,104 shares during the quarter. Truvestments Capital LLC’s holdings in Iron Mountain were worth $1,696,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain during the third quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain during the 2nd quarter valued at approximately $36,000. Finally, Family Firm Inc. bought a new position in Iron Mountain during the 2nd quarter worth $45,000. 80.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on IRM. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays reduced their price objective 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. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and a consensus target price of $129.40.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 0.7 %

IRM stock opened at $119.99 on Monday. The firm’s 50-day moving average is $119.86 and its two-hundred day moving average is $104.67. The company has a market capitalization of $35.21 billion, a price-to-earnings ratio of 330.84, a price-to-earnings-growth ratio of 7.16 and a beta of 0.99. Iron Mountain Incorporated has a 52 week low of $62.58 and a 52 week high of $130.24. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given 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 yield of 2.38%. Iron Mountain’s dividend payout ratio (DPR) is 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.