Iron Mountain Incorporated (NYSE:IRM) Shares Sold by CHB Investment Group LLC

CHB Investment Group LLC cut its position in Iron Mountain Incorporated (NYSE:IRM) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 biggest holding. CHB Investment Group LLC’s holdings in Iron Mountain were worth $3,029,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Iron Mountain by 9.5% in the 2nd quarter. LPL Financial LLC now owns 501,499 shares of the financial services provider’s stock valued at $44,944,000 after acquiring an additional 43,498 shares during the period. Meeder Advisory Services Inc. increased its stake in Iron Mountain by 22.9% in the second quarter. Meeder Advisory Services Inc. now owns 3,295 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 615 shares during the period. Federated Hermes Inc. raised its holdings in shares of Iron Mountain by 1.2% in the second quarter. Federated Hermes Inc. now owns 50,547 shares of the financial services provider’s stock valued at $4,530,000 after buying an additional 614 shares during the last quarter. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Iron Mountain during the second quarter worth about $1,641,000. Finally, Parallel Advisors LLC grew its holdings in shares of Iron Mountain by 8.2% during the second quarter. Parallel Advisors LLC now owns 3,217 shares of the financial services provider’s stock worth $288,000 after buying an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 in the company, valued at $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock worth $13,666,427 in the last quarter. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.1 %

Shares of NYSE IRM opened at $102.23 on Tuesday. The stock has a market capitalization of $30.00 billion, a price-to-earnings ratio of 283.98, a price-to-earnings-growth ratio of 6.70 and a beta of 1.02. Iron Mountain Incorporated has a 52 week low of $64.68 and a 52 week high of $130.24. The firm has a 50-day moving average price of $112.30 and a 200 day moving average price of $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 Dividend Announcement

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

Wall Street Analyst Weigh In

IRM has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays reduced their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average target price of $131.00.

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.