Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Cut by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.4% during the third quarter, HoldingsChannel.com reports. The fund owned 4,041 shares of the financial services provider’s stock after selling 184 shares during the period. Trustmark National Bank Trust Department’s holdings in Iron Mountain were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Friedenthal Financial purchased a new position in shares of Iron Mountain during the third quarter valued at $824,000. Price T Rowe Associates Inc. MD lifted its position in shares of Iron Mountain by 22.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after purchasing an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after acquiring an additional 12,540 shares during the period. Brookstone Capital Management increased its stake in Iron Mountain by 13.2% during the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after acquiring an additional 11,454 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Iron Mountain by 36.1% during the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after acquiring an additional 5,086 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on IRM. Barclays reduced their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. Stifel Nicolaus increased their price target on 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 upped their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $129.40.

Iron Mountain Trading Up 2.4 %

Shares of IRM stock opened at $119.14 on Friday. The firm has a 50 day moving average price of $119.82 and a two-hundred day moving average price of $104.00. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $34.96 billion, a PE ratio of 330.94, a price-to-earnings-growth ratio of 6.98 and a beta of 0.99. Iron Mountain Incorporated has a 12-month low of $62.58 and a 12-month high of $130.24.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.40%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred on 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by company insiders.

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.