Verus Capital Partners LLC Sells 654 Shares of Iron Mountain Incorporated (NYSE:IRM)

Verus Capital Partners LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,760 shares of the financial services provider’s stock after selling 654 shares during the period. Verus Capital Partners LLC’s holdings in Iron Mountain were worth $1,279,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC acquired a new position in Iron Mountain during the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain in the second quarter valued at approximately $36,000. Finally, Headlands Technologies LLC bought a new position in shares of Iron Mountain during the first quarter worth $38,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,637 shares of company stock valued at $3,210,575 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays lifted their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $129.80.

Iron Mountain Price Performance

Shares of IRM opened at $117.44 on Tuesday. The company has a 50 day moving average of $119.29 and a 200-day moving average of $102.21. The company has a quick ratio of 0.79, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $34.46 billion, a P/E ratio of 326.23, a P/E/G ratio of 7.17 and a beta of 0.99. Iron Mountain Incorporated has a twelve month low of $58.55 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.44%. Iron Mountain’s 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.