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

Community Bank of Raymore grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,496 shares of the financial services provider’s stock after acquiring an additional 1,681 shares during the quarter. Iron Mountain makes up 1.4% of Community Bank of Raymore’s holdings, making the stock its 22nd biggest holding. Community Bank of Raymore’s holdings in Iron Mountain were worth $1,734,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC raised its position in shares of Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Iron Mountain by 0.8% during the 3rd 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 raised its position in shares of Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after buying an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. raised its position in Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC raised its position in Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 103 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were 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 of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Over 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 Stock Performance

NYSE IRM opened at $109.19 on Monday. The firm’s 50 day moving average price is $111.35 and its 200-day moving average price is $111.88. Iron Mountain Incorporated has a 52-week low of $65.01 and a 52-week high of $130.24. The company has a market cap of $32.04 billion, a PE ratio of 303.31, a P/E/G ratio of 5.56 and a beta of 1.02.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.62%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Wall Street Analysts Forecast Growth

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

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.