Cibc World Market Inc. Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Cibc World Market Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,282 shares of the financial services provider’s stock after selling 14,726 shares during the quarter. Cibc World Market Inc. owned 0.06% of Iron Mountain worth $17,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the 3rd quarter worth about $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the third quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the third quarter valued at approximately $36,000. Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Quarry LP grew its holdings in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 0.6 %

Shares of NYSE IRM opened at $101.37 on Friday. The stock has a market cap of $29.75 billion, a P/E ratio of 281.58, a P/E/G ratio of 5.53 and a beta of 1.02. The stock has a 50 day moving average of $109.28 and a two-hundred day moving average of $112.45. Iron Mountain Incorporated has a twelve month low of $66.20 and a twelve month high of $130.24.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s payout ratio is currently 794.47%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IRM. Barclays reduced their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One 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 stock. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $130.83.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is owned by company insiders.

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.