CHB Investment Group LLC Trims Holdings in Iron Mountain Incorporated (NYSE:IRM)

CHB Investment Group LLC cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,818 shares of the financial services provider’s stock after selling 603 shares during the quarter. Iron Mountain makes up 1.6% of CHB Investment Group LLC’s investment portfolio, making the stock its 14th largest position. CHB Investment Group LLC’s holdings in Iron Mountain were worth $3,029,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. West Branch Capital LLC acquired a new position in Iron Mountain during the third quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain during the third quarter worth approximately $36,000. Dunhill Financial LLC boosted its holdings in shares of Iron Mountain by 50.5% in the 3rd 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 last quarter. Finally, Quarry LP grew its stake 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 buying an additional 230 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays cut 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. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Six equities research 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 has an average rating of “Buy” and an average price target of $131.00.

Iron Mountain Price Performance

NYSE:IRM opened at $102.23 on Tuesday. Iron Mountain Incorporated has a 52-week low of $64.68 and a 52-week high of $130.24. The firm has a market cap of $30.00 billion, a P/E ratio of 283.98, a PEG ratio of 6.70 and a beta of 1.02. The business’s 50-day moving average price is $112.30 and its 200 day moving average price is $111.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.80%. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is owned by corporate insiders.

Iron Mountain 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.