Cibc World Market Inc. Cuts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Cibc World Market Inc. cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,282 shares of the financial services provider’s stock after selling 14,726 shares during the quarter. Cibc World Market Inc.’s holdings in Iron Mountain were worth $17,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain during the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC increased its holdings in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were 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 owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,016 shares of company stock valued at $13,666,427. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $101.37 on Friday. Iron Mountain Incorporated has a 12 month low of $66.20 and a 12 month high of $130.24. The business has a 50-day moving average of $109.28 and a two-hundred day moving average of $112.45. The stock has a market capitalization of $29.75 billion, a price-to-earnings ratio of 281.58, a price-to-earnings-growth ratio of 5.53 and a beta of 1.02.

Iron Mountain Announces Dividend

The business 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. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.82%. Iron Mountain’s payout ratio is 794.47%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. 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 research report on Wednesday, November 27th. Finally, Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $130.83.

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.