American Trust Investment Advisors LLC Sells 17,890 Shares of Iron Mountain Incorporated $IRM

American Trust Investment Advisors LLC trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 33.0% in the third quarter, Holdings Channel.com reports. The firm owned 36,330 shares of the financial services provider’s stock after selling 17,890 shares during the period. Iron Mountain comprises approximately 1.9% of American Trust Investment Advisors LLC’s portfolio, making the stock its 24th largest holding. American Trust Investment Advisors LLC’s holdings in Iron Mountain were worth $3,703,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in IRM. Intact Investment Management Inc. acquired a new position in Iron Mountain in the third quarter valued at approximately $3,588,000. Sei Investments Co. grew its holdings in Iron Mountain by 4.2% during the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after acquiring an additional 35,301 shares during the period. PNC Financial Services Group Inc. grew its holdings in Iron Mountain by 11.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock worth $6,707,000 after acquiring an additional 6,937 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Iron Mountain by 17.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock valued at $10,598,000 after acquiring an additional 15,225 shares during the last quarter. Finally, AGF Management Ltd. lifted its stake in shares of Iron Mountain by 178.0% in the 3rd quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock valued at $2,262,000 after purchasing an additional 14,205 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.5%

Shares of IRM stock opened at $106.83 on Friday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24. The firm has a fifty day moving average of $99.25 and a 200-day moving average of $95.89. The firm has a market capitalization of $31.60 billion, a price-to-earnings ratio of 222.55 and a beta of 1.13.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s payout ratio is presently 718.75%.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total value of $643,620.00. Following the completion of the transaction, the executive vice president directly owned 131,507 shares in the company, valued at approximately $14,106,755.89. The trade was a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 98,657 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $106.25, for a total value of $10,482,306.25. The SEC filing for this sale provides additional information. Insiders sold 391,931 shares of company stock worth $41,180,243 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IRM shares. Loop Capital set a $130.00 price target on Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Barclays raised their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $116.60.

Iron Mountain Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.