Cetera Trust Company N.A Sells 225 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cetera Trust Company N.A lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,625 shares of the financial services provider’s stock after selling 225 shares during the period. Cetera Trust Company N.A’s holdings in Iron Mountain were worth $381,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares during the period. Friedenthal Financial bought a new stake in Iron Mountain in the 3rd quarter valued at about $824,000. Tidal Investments LLC lifted its stake in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $24,122,000. Finally, World Investment Advisors LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at approximately $554,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock worth $13,666,427 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $110.81 on Wednesday. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 307.78, a PEG ratio of 6.01 and a beta of 1.02. Iron Mountain Incorporated has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The stock has a fifty day moving average price of $111.11 and a 200-day moving average price of $112.13.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is 794.44%.

Analyst Ratings Changes

A number of brokerages have issued reports on IRM. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays cut their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $131.00.

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.