Cwm LLC Sells 706 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cwm LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 10.4% during the first quarter, HoldingsChannel reports. The firm owned 6,052 shares of the financial services provider’s stock after selling 706 shares during the period. Cwm LLC’s holdings in Iron Mountain were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in IRM. Blue Trust Inc. lifted its stake in Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Iron Mountain in the fourth quarter worth about $26,000. CVA Family Office LLC purchased a new stake in Iron Mountain in the fourth quarter worth about $32,000. Transcendent Capital Group LLC purchased a new stake in Iron Mountain in the fourth quarter worth about $36,000. Finally, Heritage Wealth Advisors purchased a new stake in Iron Mountain in the fourth quarter worth about $38,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the transaction, the executive vice president now owns 65,286 shares in the company, valued at $5,123,645.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the transaction, the executive vice president now owns 65,286 shares in the company, valued at $5,123,645.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 3,095 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. Insiders have sold a total of 63,227 shares of company stock worth $5,125,392 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

IRM stock opened at $88.86 on Friday. Iron Mountain Incorporated has a one year low of $53.74 and a one year high of $89.91. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $26.05 billion, a price-to-earnings ratio of 134.64, a PEG ratio of 5.25 and a beta of 0.95. The firm has a 50-day simple moving average of $80.84 and a two-hundred day simple moving average of $75.12.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.93%. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barclays increased their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

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.