Trust Co. of Virginia VA Reduces Holdings in Iron Mountain Incorporated (NYSE:IRM)

Trust Co. of Virginia VA decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,772 shares of the financial services provider’s stock after selling 2,635 shares during the period. Trust Co. of Virginia VA’s holdings in Iron Mountain were worth $13,457,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IRM. Cohen & Steers Inc. grew its stake in shares of Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after buying an additional 15,035,937 shares during the period. Norges Bank acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $228,391,000. Wellington Management Group LLP lifted its holdings in shares of Iron Mountain by 315.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after acquiring an additional 2,286,711 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Iron Mountain by 60.9% in 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 acquiring an additional 1,546,592 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Iron Mountain by 214.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after acquiring an additional 1,178,754 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.5 %

Iron Mountain stock traded up $0.41 during mid-day trading on Friday, reaching $89.62. 3,284,005 shares of the company’s stock were exchanged, compared to its average volume of 2,524,909. The company has a market cap of $26.27 billion, a P/E ratio of 135.79, a P/E/G ratio of 5.28 and a beta of 0.95. Iron Mountain Incorporated has a twelve month low of $55.02 and a twelve month high of $90.40. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The company has a fifty day moving average of $82.25 and a 200-day moving average of $75.92.

Iron Mountain Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company upped their price objective 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 increased their target price on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus target price of $78.33.

Insider Activity

In other news, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the sale, the director now directly owns 35,166 shares in the company, valued at approximately $2,860,050.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Tomovcsik sold 35,084 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the transaction, the chief operating officer now directly owns 20,366 shares in the company, valued at $1,807,686.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,511 shares of company stock worth $8,787,218. 2.10% of the stock is currently owned by corporate 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.