Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,952 shares of the financial services provider’s stock after acquiring an additional 1,937 shares during the quarter. CIBC Asset Management Inc’s holdings in Iron Mountain were worth $4,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Iron Mountain by 17.9% during the 4th quarter. Principal Financial Group Inc. now owns 415,368 shares of the financial services provider’s stock valued at $43,659,000 after acquiring an additional 62,917 shares during the last quarter. Csenge Advisory Group boosted its position in shares of Iron Mountain by 5.1% during the 4th quarter. Csenge Advisory Group now owns 11,874 shares of the financial services provider’s stock valued at $1,248,000 after acquiring an additional 574 shares during the last quarter. Secured Retirement Advisors LLC boosted its position in shares of Iron Mountain by 6.5% during the 4th quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 120 shares during the last quarter. Allworth Financial LP boosted its position in shares of Iron Mountain by 1.9% during the 4th quarter. Allworth Financial LP now owns 64,350 shares of the financial services provider’s stock valued at $7,077,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Centerpoint Advisory Group acquired a new position in shares of Iron Mountain during the 4th quarter valued at about $272,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $92.69 on Thursday. The firm has a market capitalization of $27.20 billion, a PE ratio of 151.96, a price-to-earnings-growth ratio of 5.25 and a beta of 1.01. The firm’s 50-day moving average is $104.30 and its two-hundred day moving average is $112.52. Iron Mountain Incorporated has a 1 year low of $67.09 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 468.85%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IRM shares. JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. 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, January 28th. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.67.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred 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 directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,391 shares of company stock worth $16,805,912. Company 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.