Smithfield Trust Co Sells 242 Shares of Iron Mountain Incorporated (NYSE:IRM)

Smithfield Trust Co decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,011 shares of the financial services provider’s stock after selling 242 shares during the period. Smithfield Trust Co’s holdings in Iron Mountain were worth $3,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IRM. OneDigital Investment Advisors LLC raised its stake in shares of Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 89 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 92 shares during the last quarter. Schmidt P J Investment Management Inc. raised its stake in Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after buying an additional 100 shares during the last quarter. Claro Advisors LLC raised its stake in Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 103 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in Iron Mountain by 2.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after buying an additional 107 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain 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 $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 over the last three months. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday. The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $129.40.

Iron Mountain Trading Down 0.2 %

NYSE:IRM opened at $116.30 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $34.13 billion, a price-to-earnings ratio of 323.06, a PEG ratio of 6.98 and a beta of 0.99. The firm has a fifty day simple moving average of $119.76 and a two-hundred day simple moving average of $103.89. Iron Mountain Incorporated has a 12 month low of $62.56 and a 12 month high of $130.24.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 2.46%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

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.