Atlantic Union Bankshares Corp Sells 673 Shares of Iron Mountain Incorporated (NYSE:IRM)

Atlantic Union Bankshares Corp reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,421 shares of the financial services provider’s stock after selling 673 shares during the period. Atlantic Union Bankshares Corp’s holdings in Iron Mountain were worth $675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in Iron Mountain during the fourth quarter valued at $16,590,000. Goldman Sachs Group Inc. boosted its position in shares of Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after purchasing an additional 59,381 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Iron Mountain by 42.3% in the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock worth $11,343,000 after purchasing an additional 48,170 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Iron Mountain by 6.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after buying an additional 27,551 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRM has been the subject of a number of research reports. Barclays raised their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.33.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $0.39 during midday trading on Friday, hitting $89.60. The company’s stock had a trading volume of 3,283,684 shares, compared to its average volume of 1,592,736. The firm has a market capitalization of $26.26 billion, a price-to-earnings ratio of 135.76, a P/E/G ratio of 5.24 and a beta of 0.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a fifty day moving average price of $82.25 and a 200 day moving average price of $75.92. Iron Mountain Incorporated has a one year low of $55.02 and a one year high of $90.40.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is presently 393.95%.

Insider Activity

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Daniel Borges sold 3,095 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the sale, the director now directly owns 35,166 shares in the company, valued at $2,860,050.78. The disclosure for this sale can be found here. Insiders have sold a total of 104,511 shares of company stock worth $8,787,218 over the last ninety days. Company insiders own 2.10% of the company’s stock.

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.