Griffin Asset Management Inc. Sells 1,477 Shares of Iron Mountain Incorporated (NYSE:IRM)

Griffin Asset Management Inc. lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 25.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,404 shares of the financial services provider’s stock after selling 1,477 shares during the quarter. Griffin Asset Management Inc.’s holdings in Iron Mountain were worth $353,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares during the period. Exchange Traded Concepts LLC bought a new position in Iron Mountain in the 4th quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth approximately $36,000. Finally, Heritage Wealth Advisors bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $38,000. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now directly owns 24,491 shares in the company, valued at $1,845,396.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.35, for a total transaction of $113,025.00. Following the completion of the transaction, the director now owns 24,491 shares in the company, valued at $1,845,396.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,511 shares of company stock valued at $8,787,218. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $89.62 on Friday. Iron Mountain Incorporated has a twelve month low of $55.02 and a twelve month high of $90.40. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $26.27 billion, a P/E ratio of 135.79, a price-to-earnings-growth ratio of 5.31 and a beta of 0.95. The firm’s 50-day simple moving average is $82.25 and its 200-day simple moving average is $75.99.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.90%. Iron Mountain’s dividend payout ratio is currently 393.95%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IRM. Barclays upped their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, The Goldman Sachs Group lifted their target price on Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.33.

Iron Mountain Company 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.