Atria Investments Inc Has $2.43 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Atria Investments Inc lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 11.6% during the third quarter, Holdings Channel.com reports. The firm owned 20,446 shares of the financial services provider’s stock after selling 2,670 shares during the period. Atria Investments Inc’s holdings in Iron Mountain were worth $2,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain in the 2nd quarter worth approximately $32,000. West Branch Capital LLC bought a new stake in Iron Mountain during the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain during the 2nd quarter worth about $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain in the 1st quarter valued at about $38,000. Finally, Family Firm Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Down 2.4 %

IRM opened at $113.16 on Friday. The firm’s fifty day simple moving average is $119.46 and its 200 day simple moving average is $102.63. The stock has a market capitalization of $33.21 billion, a P/E ratio of 314.33, a P/E/G ratio of 6.86 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $61.59 and a 12 month high of $130.24.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.53%. Iron Mountain’s payout ratio is presently 794.44%.

Analysts Set New Price Targets

Several brokerages recently weighed in on IRM. Stifel Nicolaus increased their price objective on shares of 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 increased their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased 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, 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. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $129.80.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were 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 of the company’s stock, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,387 shares of company stock valued at $6,971,838. 2.10% of the stock is owned by insiders.

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.