Trustmark National Bank Trust Department Lowers Stake in Iron Mountain Incorporated (NYSE:IRM)

Trustmark National Bank Trust Department cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 11.1% in the 4th quarter, Holdings Channel reports. The fund owned 3,593 shares of the financial services provider’s stock after selling 448 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Iron Mountain were worth $378,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IRM. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the fourth quarter worth approximately $26,000. Key Financial Inc grew its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in shares of Iron Mountain in the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $121.29.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.2 %

Shares of Iron Mountain stock opened at $84.41 on Tuesday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The company has a market cap of $24.79 billion, a P/E ratio of 138.38, a PEG ratio of 5.15 and a beta of 0.97. The company’s fifty day simple moving average is $89.09 and its two-hundred day simple moving average is $105.22.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the previous year, the company earned $0.52 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.72%. Iron Mountain’s payout ratio is currently 514.75%.

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.