Iron Mountain Incorporated (NYSE:IRM) Position Cut by Courier Capital LLC

Courier Capital LLC lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 25.7% in the fourth quarter, HoldingsChannel reports. The fund owned 29,502 shares of the financial services provider’s stock after selling 10,227 shares during the period. Courier Capital LLC’s holdings in Iron Mountain were worth $3,101,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the third quarter valued at about $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain during the 3rd quarter worth $33,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain during the 3rd quarter worth about $36,000. Dunhill Financial LLC raised its position in shares of 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 purchasing an additional 152 shares during the period. Finally, Quarry LP lifted its position 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 during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on 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 approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock valued at $13,666,427 over the last quarter. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company boosted their price target 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 cut their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $131.00.

Iron Mountain Stock Performance

IRM traded up $1.07 during trading on Monday, hitting $102.23. 1,921,347 shares of the company traded hands, compared to its average volume of 2,121,292. Iron Mountain Incorporated has a one year low of $64.68 and a one year high of $130.24. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock’s fifty day moving average is $112.71 and its 200 day moving average is $111.31. The firm has a market cap of $30.00 billion, a P/E ratio of 283.98, a price-to-earnings-growth ratio of 6.70 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.80%. Iron Mountain’s payout ratio is 794.44%.

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.