Atlantic Union Bankshares Corp Lowers Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Atlantic Union Bankshares Corp trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,171 shares of the financial services provider’s stock after selling 250 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Iron Mountain were worth $971,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IRM. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain during the second quarter valued at about $32,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain in the second quarter worth about $36,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain during the third quarter valued at about $36,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $123.75 on Friday. The business has a fifty day moving average of $120.42 and a 200 day moving average of $105.53. Iron Mountain Incorporated has a 1 year low of $62.95 and a 1 year high of $130.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $36.32 billion, a price-to-earnings ratio of 343.76, a price-to-earnings-growth ratio of 7.47 and a beta of 0.99.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 over the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRM. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised 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. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $131.00.

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.