American Trust Investment Advisors LLC Has $3.70 Million Stake in Iron Mountain Incorporated $IRM

Key Points

• American Trust Investment Advisors LLC cut its stake in Iron Mountain by 33.0%, selling 17,890 shares to finish the quarter with 36,330 shares worth $3.70 million, which is 1.9% of its portfolio and its 24th largest holding.
• Significant insider selling has occurred recently: CEO William L. Meaney sold 98,657 shares for $10.48 million, and insiders have sold a total of 391,931 shares valued at $41.18 million in the last 90 days (insiders now own 1.90%).
• Iron Mountain declared a quarterly dividend of $0.864 per share (annualized $3.46, yield 3.2%; ex-dividend March 16, payable April 3), and the stock carries a consensus rating of "Moderate Buy" with a $116.60 price target and a market cap of $31.6 billion.

American Trust Investment Advisors LLC lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 33.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,330 shares of the financial services provider's stock after selling 17,890 shares during the period. Iron Mountain comprises 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Koshinski Asset Management Inc. lifted its stake in Iron Mountain by 2.0% during the third quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider's stock worth $521,000 after purchasing an additional 98 shares during the period. NorthCrest Asset Manangement LLC boosted its stake in Iron Mountain by 3.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider's stock valued at $310,000 after buying an additional 103 shares in the last quarter. Continuum Advisory LLC grew its position in Iron Mountain by 5.3% in the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider's stock valued at $212,000 after acquiring an additional 104 shares during the period. Natural Investments LLC grew its position in Iron Mountain by 3.1% in the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 107 shares during the period. Finally, Merit Financial Group LLC raised its stake in Iron Mountain by 0.5% during the third quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider's stock worth $2,032,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

IRM has been the topic of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Barclays lifted their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, Loop Capital set a $130.00 price target on shares of Iron Mountain in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.60.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 98,657 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $106.25, for a total value of $10,482,306.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the transaction, the executive vice president directly owned 131,507 shares of the company's stock, valued at approximately $14,106,755.89. This represents a 4.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 391,931 shares of company stock valued at $41,180,243 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $106.83 on Friday. The stock has a fifty day moving average price of $99.25 and a two-hundred day moving average price of $95.89. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $115.24. The company has a market cap of $31.60 billion, a price-to-earnings ratio of 222.55 and a beta of 1.13.

Iron Mountain Announces Dividend

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

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.

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