Cibc World Markets Corp Has $13.84 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Cibc World Markets Corp raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,714 shares of the financial services provider's stock after buying an additional 14,380 shares during the period. Cibc World Markets Corp's holdings in Iron Mountain were worth $13,844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at about $26,000. Madison Investment Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $2,561,000. Commonwealth Equity Services LLC raised its position in Iron Mountain by 1.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 225,063 shares of the financial services provider's stock valued at $23,656,000 after acquiring an additional 2,361 shares in the last quarter. Balboa Wealth Partners lifted its stake in Iron Mountain by 92.0% in the fourth quarter. Balboa Wealth Partners now owns 4,031 shares of the financial services provider's stock valued at $424,000 after acquiring an additional 1,931 shares during the last quarter. Finally, Erste Asset Management GmbH increased its stake in shares of Iron Mountain by 6.4% during the 4th quarter. Erste Asset Management GmbH now owns 86,600 shares of the financial services provider's stock worth $9,068,000 after purchasing an additional 5,200 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on IRM shares. StockNews.com downgraded shares of Iron Mountain from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Barclays reduced their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $125.67.

Iron Mountain Price Performance

Shares of NYSE IRM traded down $0.79 during trading hours on Friday, reaching $87.64. The stock had a trading volume of 3,116,949 shares, compared to its average volume of 2,239,305. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The business's fifty day moving average is $97.16 and its two-hundred day moving average is $109.40. The company has a market cap of $25.74 billion, a price-to-earnings ratio of 143.67, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last announced 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the company posted $0.52 EPS. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.58%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio is 514.75%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,131 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock worth $31,530,305 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.