CIBC Private Wealth Group LLC Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

CIBC Private Wealth Group LLC cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,016,176 shares of the financial services provider's stock after selling 8,767 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.35% of Iron Mountain worth $104,514,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IRM. Dynamic Technology Lab Private Ltd purchased a new stake in Iron Mountain during the third quarter valued at about $271,000. The Manufacturers Life Insurance Company raised its position in shares of Iron Mountain by 2.0% in the third quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider's stock valued at $24,912,000 after purchasing an additional 4,150 shares during the period. Townsquare Capital LLC lifted its stake in shares of Iron Mountain by 72.9% during the 3rd quarter. Townsquare Capital LLC now owns 10,129 shares of the financial services provider's stock valued at $1,204,000 after buying an additional 4,271 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Iron Mountain in the 3rd quarter worth approximately $358,000. Finally, Public Sector Pension Investment Board grew its stake in Iron Mountain by 25.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,128 shares of the financial services provider's stock valued at $6,076,000 after buying an additional 10,410 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. StockNews.com cut Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Finally, Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain currently has an average rating of "Moderate Buy" and a consensus price target of $125.67.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,848 shares of company stock worth $23,418,519 over the last ninety days. Insiders own 2.10% of the company's stock.

Iron Mountain Stock Performance

IRM traded down $4.86 on Thursday, reaching $83.24. The company had a trading volume of 1,155,553 shares, compared to its average volume of 1,768,444. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The company has a market cap of $24.45 billion, a price-to-earnings ratio of 136.46, a P/E/G ratio of 5.15 and a beta of 1.04. The business has a 50 day simple moving average of $93.59 and a 200 day simple moving average of $107.75.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data 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 for 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 prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.77%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is currently 514.75%.

Iron Mountain 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.