Deseret Mutual Benefit Administrators Sells 116 Shares of Iron Mountain Incorporated (NYSE:IRM)

Deseret Mutual Benefit Administrators lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,861 shares of the financial services provider’s stock after selling 116 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Iron Mountain were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the 2nd quarter worth $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain in the second quarter worth $36,000. Headlands Technologies LLC purchased a new stake in shares of Iron Mountain during the first quarter valued at approximately $38,000. Finally, Family Firm Inc. purchased a new stake in shares of Iron Mountain during the second quarter valued at $45,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO John Tomovcsik sold 1,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. This represents 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 this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,637 shares of company stock worth $3,210,575. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IRM shares. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays upped their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain Trading Up 0.3 %

Shares of IRM stock opened at $114.84 on Thursday. Iron Mountain Incorporated has a 1-year low of $58.55 and a 1-year high of $130.24. The company has a market cap of $33.69 billion, a price-to-earnings ratio of 146.72, a PEG ratio of 7.33 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50 day simple moving average of $118.98 and a 200-day simple moving average of $101.17.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is currently 366.67%.

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.