Coastline Trust Co Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Coastline Trust Co lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,147 shares of the financial services provider’s stock after selling 97 shares during the quarter. Coastline Trust Co’s holdings in Iron Mountain were worth $612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the 3rd quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain during the second quarter worth approximately $32,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the second quarter valued at approximately $36,000. Finally, Headlands Technologies LLC bought a new position in Iron Mountain in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $114.87 on Friday. The company has a 50 day moving average of $119.57 and a two-hundred day moving average of $102.89. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 319.09, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99. 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 twelve month low of $61.59 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.49%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Analyst Ratings Changes

Several equities research analysts have weighed in on IRM shares. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays boosted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $129.80.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction 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 20.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,387 shares of company stock valued at $6,971,838 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.