Raymond James Trust N.A. Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Raymond James Trust N.A. reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,293 shares of the financial services provider’s stock after selling 276 shares during the period. Raymond James Trust N.A.’s holdings in Iron Mountain were worth $748,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain during the 2nd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at approximately $36,000. Finally, Family Firm Inc. acquired a new stake in shares of Iron Mountain in the 2nd quarter valued at $45,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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 that occurred on 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 sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,125 shares of company stock worth $6,613,584 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.5 %

IRM opened at $120.84 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $62.58 and a 52 week high of $130.24. The business’s 50 day moving average is $119.91 and its two-hundred day moving average is $104.96. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 335.68, a price-to-earnings-growth ratio of 7.16 and a beta of 0.99.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.37%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Analyst Ratings Changes

Several equities analysts recently commented on IRM shares. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays dropped their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $129.40.

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.