Avalon Investment & Advisory Sells 6,810 Shares of Iron Mountain Incorporated (NYSE:IRM)

Avalon Investment & Advisory decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 351,747 shares of the financial services provider’s stock after selling 6,810 shares during the quarter. Avalon Investment & Advisory owned approximately 0.12% of Iron Mountain worth $18,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Brown Brothers Harriman & Co. raised its position in Iron Mountain by 4.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,820 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 187 shares during the last quarter. Cresset Asset Management LLC raised its position in Iron Mountain by 1.2% in the 1st quarter. Cresset Asset Management LLC now owns 16,001 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 195 shares during the last quarter. Coastline Trust Co raised its position in shares of Iron Mountain by 4.0% during the fourth quarter. Coastline Trust Co now owns 5,196 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 200 shares during the last quarter. Czech National Bank raised its position in shares of Iron Mountain by 0.6% during the first quarter. Czech National Bank now owns 34,248 shares of the financial services provider’s stock worth $1,812,000 after acquiring an additional 203 shares during the last quarter. Finally, Mariner LLC raised its position in shares of Iron Mountain by 1.1% during the first quarter. Mariner LLC now owns 19,352 shares of the financial services provider’s stock worth $1,072,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 76.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays boosted their target price on Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Royal Bank of Canada upgraded Iron Mountain from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $58.00 to $68.00 in a research report on Monday, August 21st. Finally, StockNews.com assumed coverage on Iron Mountain in a research report on Thursday, August 17th. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.75.

Insider Buying and Selling

In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $56.23, for a total transaction of $112,460.00. Following the completion of the sale, the executive vice president now directly owns 62,026 shares of the company’s stock, valued at $3,487,721.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $56.23, for a total value of $112,460.00. Following the completion of the transaction, the executive vice president now directly owns 62,026 shares of the company’s stock, valued at $3,487,721.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 10,507 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $60.22, for a total value of $632,731.54. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $17,804,043. The disclosure for this sale can be found here. Insiders sold a total of 57,895 shares of company stock valued at $3,408,827 over the last three months. Company insiders own 2.20% of the company’s stock.

Iron Mountain Trading Down 1.5 %

Shares of Iron Mountain stock traded down $0.97 during trading on Friday, reaching $62.68. 1,312,591 shares of the company were exchanged, compared to its average volume of 1,045,449. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 26.77. Iron Mountain Incorporated has a twelve month low of $43.33 and a twelve month high of $64.37. The business has a 50-day moving average price of $60.84 and a 200-day moving average price of $56.32. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 48.22, a P/E/G ratio of 4.23 and a beta of 0.92.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, September 14th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.15%. Iron Mountain’s payout ratio is 200.00%.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.