Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Cypress Capital Group

Cypress Capital Group trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 12.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,835 shares of the financial services provider’s stock after selling 400 shares during the period. Cypress Capital Group’s holdings in Iron Mountain were worth $337,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $31,000. West Branch Capital LLC acquired a new position in Iron Mountain during the third quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain in the second quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain during the 2nd quarter worth about $36,000. Finally, Family Firm Inc. purchased a new position in shares of Iron Mountain in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the subject of several research analyst reports. Wells Fargo & Company increased 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. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Barclays dropped their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $129.40.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock valued at $6,613,584 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Up 2.4 %

IRM opened at $119.14 on Friday. The company’s 50 day moving average price is $119.82 and its two-hundred day moving average price is $104.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $34.96 billion, a price-to-earnings ratio of 330.94, a PEG ratio of 6.98 and a beta of 0.99. Iron Mountain Incorporated has a fifty-two week low of $62.58 and a fifty-two week high of $130.24.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. Iron Mountain’s dividend 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.