CIBC Private Wealth Group LLC Sells 12,162 Shares of Iron Mountain Incorporated $IRM

CIBC Private Wealth Group LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 721,087 shares of the financial services provider’s stock after selling 12,162 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Iron Mountain were worth $73,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of IRM. Capital Square LLC raised its holdings in Iron Mountain by 6.9% during the 3rd quarter. Capital Square LLC now owns 3,664 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 237 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Iron Mountain during the third quarter worth $12,066,000. Centaurus Financial Inc. boosted its holdings in shares of Iron Mountain by 6.8% in the third quarter. Centaurus Financial Inc. now owns 7,017 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 449 shares during the period. Coldstream Capital Management Inc. grew its position in shares of Iron Mountain by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 7,506 shares of the financial services provider’s stock valued at $765,000 after purchasing an additional 121 shares in the last quarter. Finally, Aspire Private Capital LLC grew its position in shares of Iron Mountain by 6.1% in the third quarter. Aspire Private Capital LLC now owns 8,855 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 507 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 137,133 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $109.39, for a total value of $15,000,978.87. Following the transaction, the chief executive officer directly owned 295,975 shares in the company, valued at $32,376,705.25. This represents a 31.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $107.27, for a total value of $643,620.00. Following the completion of the sale, the executive vice president directly owned 131,507 shares in the company, valued at approximately $14,106,755.89. The trade was a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 391,931 shares of company stock worth $41,180,243 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IRM has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Barclays lifted their target price on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Loop Capital set a $130.00 price target on Iron Mountain in a research report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $116.60.

Iron Mountain Price Performance

IRM opened at $105.94 on Thursday. The firm has a market capitalization of $31.34 billion, a P/E ratio of 220.71 and a beta of 1.13. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $115.24. The company has a fifty day moving average price of $100.56 and a 200-day moving average price of $96.20.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be given a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, March 16th. Iron Mountain’s payout ratio is presently 720.83%.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.