Cascade Investment Group Inc. Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Cascade Investment Group Inc. lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,560 shares of the financial services provider’s stock after selling 885 shares during the quarter. Iron Mountain makes up about 1.6% of Cascade Investment Group Inc.’s holdings, making the stock its 12th largest position. Cascade Investment Group Inc.’s holdings in Iron Mountain were worth $2,266,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC boosted its holdings in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 89 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Iron Mountain by 0.8% in the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after buying an additional 92 shares in the last quarter. Geller Advisors LLC grew its holdings in Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 96 shares during the period. Schmidt P J Investment Management Inc. raised its position in Iron Mountain by 3.6% in the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 100 shares in the last quarter. Finally, Claro Advisors LLC lifted its holdings in Iron Mountain by 0.6% in the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $109.19 on Monday. Iron Mountain Incorporated has a fifty-two week low of $65.01 and a fifty-two week high of $130.24. The company has a market capitalization of $32.04 billion, a price-to-earnings ratio of 303.31, a PEG ratio of 5.56 and a beta of 1.02. The stock has a fifty day moving average of $111.35 and a two-hundred day moving average of $111.88.

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 paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.62%. The ex-dividend date was Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,016 shares of company stock worth $13,666,427. Corporate insiders own 2.10% of the company’s stock.

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.