Colonial River Investments LLC Sells 225 Shares of Iron Mountain Incorporated (NYSE:IRM)

Colonial River Investments LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,021 shares of the financial services provider’s stock after selling 225 shares during the quarter. Colonial River Investments LLC’s holdings in Iron Mountain were worth $1,072,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Axxcess Wealth Management LLC increased its position in shares of Iron Mountain by 13.5% in the third quarter. Axxcess Wealth Management LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,569,000 after acquiring an additional 1,566 shares during the last quarter. Assetmark Inc. grew its stake in Iron Mountain by 12.8% in the third quarter. Assetmark Inc. now owns 48,535 shares of the financial services provider’s stock valued at $5,767,000 after purchasing an additional 5,502 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Iron Mountain by 63.3% in the third quarter. Verdence Capital Advisors LLC now owns 7,030 shares of the financial services provider’s stock valued at $835,000 after purchasing an additional 2,726 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $240,000. Finally, Stiles Financial Services Inc bought a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $253,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 2.4 %

Shares of IRM opened at $119.71 on Friday. The firm’s 50-day simple moving average is $119.20 and its 200 day simple moving average is $101.76. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.75. The firm has a market cap of $35.12 billion, a P/E ratio of 332.54, a price-to-earnings-growth ratio of 6.86 and a beta of 0.99. Iron Mountain Incorporated has a 52 week low of $58.55 and a 52 week high of $130.24.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.39%. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Barclays boosted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. 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 lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $129.80.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % 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, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,637 shares of company stock valued at $3,210,575. Insiders own 2.10% of the company’s stock.

About Iron Mountain

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.