Community Bank of Raymore Increases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Community Bank of Raymore increased its position in Iron Mountain Incorporated (NYSE:IRM) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,496 shares of the financial services provider’s stock after acquiring an additional 1,681 shares during the period. Iron Mountain comprises approximately 1.4% of Community Bank of Raymore’s holdings, making the stock its 22nd largest position. Community Bank of Raymore’s holdings in Iron Mountain were worth $1,734,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the 3rd quarter worth approximately $31,000. West Branch Capital LLC bought a new stake in Iron Mountain in the 3rd quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the 3rd quarter worth approximately $36,000. Dunhill Financial LLC grew its position in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the period. Finally, Quarry LP grew its position in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on IRM. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $131.00.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock worth $13,666,427 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $109.19 on Monday. The company has a market capitalization of $32.04 billion, a P/E ratio of 303.31, a P/E/G ratio of 5.56 and a beta of 1.02. The company has a fifty day moving average of $111.35 and a 200 day moving average of $111.88. Iron Mountain Incorporated has a fifty-two week low of $65.01 and a fifty-two week high of $130.24.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio is currently 794.47%.

About Iron Mountain

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.