Plimoth Trust Co. LLC Lowers Stake in Iron Mountain Incorporated (NYSE:IRM)

Plimoth Trust Co. LLC lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,578 shares of the financial services provider’s stock after selling 420 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Iron Mountain were worth $848,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Chesley Taft & Associates LLC increased its position in Iron Mountain by 1.0% during the first quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock valued at $1,175,000 after acquiring an additional 150 shares during the last quarter. Global Retirement Partners LLC increased its position in Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Iron Mountain by 17.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 171 shares during the last quarter. Federated Hermes Inc. increased its position in Iron Mountain by 4.0% during the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 179 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in Iron Mountain by 48.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the completion of the transaction, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at approximately $5,123,645.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $78.48, for a total value of $156,960.00. Following the sale, the executive vice president now directly owns 65,286 shares in the company, valued at approximately $5,123,645.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $22,670,442. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,053 shares of company stock valued at $8,429,641. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IRM shares. Barclays boosted their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company upped their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.33.

Iron Mountain Trading Up 1.3 %

NYSE:IRM opened at $90.87 on Wednesday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day simple moving average of $82.81 and a 200-day simple moving average of $76.36. Iron Mountain Incorporated has a one year low of $56.28 and a one year high of $91.06. The firm has a market cap of $26.64 billion, a P/E ratio of 137.68, a P/E/G ratio of 5.31 and a beta of 0.98.

Iron Mountain Announces Dividend

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. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.86%. Iron Mountain’s dividend payout ratio is currently 393.95%.

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.