CIBC Asset Management Inc Sells 1,930 Shares of Iron Mountain Incorporated (NYSE:IRM)

CIBC Asset Management Inc lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.6% in the second quarter, Holdings Channel.com reports. The firm owned 39,709 shares of the financial services provider’s stock after selling 1,930 shares during the period. CIBC Asset Management Inc’s holdings in Iron Mountain were worth $3,559,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain in the second quarter valued at approximately $32,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain during the 4th quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter worth about $36,000. Heritage Wealth Advisors acquired a new position in Iron Mountain in the 4th quarter valued at about $38,000. Finally, Headlands Technologies LLC bought a new position in Iron Mountain in the 1st quarter valued at about $38,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IRM shares. The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.83.

Insider Buying and Selling at Iron Mountain

In other news, CAO Daniel Borges sold 3,095 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,805 shares of company stock valued at $7,510,750. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Down 3.4 %

IRM stock opened at $109.08 on Friday. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $114.93. The business has a 50-day simple moving average of $103.37 and a 200 day simple moving average of $88.05. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The company has a market cap of $31.97 billion, a PE ratio of 165.27, a price-to-earnings-growth ratio of 6.78 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.715 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.62%. Iron Mountain’s dividend payout ratio is presently 433.33%.

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.