Vestcor Inc Sells 7,443 Shares of Iron Mountain Incorporated (NYSE:IRM)

Vestcor Inc lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,225 shares of the financial services provider's stock after selling 7,443 shares during the quarter. Vestcor Inc's holdings in Iron Mountain were worth $10,246,000 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. CWM LLC increased its holdings in shares of Iron Mountain by 26.3% in the second quarter. CWM LLC now owns 7,645 shares of the financial services provider's stock worth $685,000 after acquiring an additional 1,593 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Iron Mountain by 12.2% during the second quarter. Sequoia Financial Advisors LLC now owns 7,935 shares of the financial services provider's stock worth $711,000 after buying an additional 862 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Iron Mountain during the second quarter worth about $250,000. Maia Wealth LLC bought a new position in shares of Iron Mountain during the second quarter worth about $215,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Iron Mountain by 7.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 113,698 shares of the financial services provider's stock worth $10,190,000 after buying an additional 7,415 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Iron Mountain stock traded down $2.31 during trading on Tuesday, hitting $112.03. The stock had a trading volume of 2,486,723 shares, compared to its average volume of 1,593,832. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 311.19, a price-to-earnings-growth ratio of 7.20 and a beta of 0.98. The stock's 50 day moving average is $120.54 and its two-hundred day moving average is $107.99. Iron Mountain Incorporated has a 1 year low of $64.68 and a 1 year high of $130.24. 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 Announces Dividend

The company 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 $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.55%. Iron Mountain's dividend payout ratio is presently 794.44%.

Insider Activity at Iron Mountain

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IRM. Barclays lowered their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $131.00.

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.