Courier Capital LLC Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Courier Capital LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 25.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its stake in Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 89 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after buying an additional 92 shares during the period. Geller Advisors LLC grew its stake in shares of Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. lifted its holdings in Iron Mountain by 3.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after buying an additional 100 shares during the last quarter. Finally, Claro Advisors LLC boosted its position in shares of Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRM. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their price objective 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 objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays dropped their price target 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. Finally, 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 report on Wednesday, November 27th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average price target of $131.00.

Iron Mountain Price Performance

Shares of IRM traded up $1.07 during trading hours on Monday, reaching $102.23. 1,921,347 shares of the company traded hands, compared to its average volume of 2,121,292. The stock has a market capitalization of $30.00 billion, a PE ratio of 283.98, a price-to-earnings-growth ratio of 6.70 and a beta of 1.02. Iron Mountain Incorporated has a fifty-two week low of $64.68 and a fifty-two week 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 has a fifty day simple moving average of $112.71 and a 200 day simple moving average of $111.31.

Iron Mountain Announces Dividend

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

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This represents a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. 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 in the last quarter. 2.10% of the stock is currently owned by company insiders.

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.