Iron Mountain Incorporated (NYSE:IRM) Stake Raised by Cibc World Markets Corp (2024)

Cibc World Markets Corp increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 734.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,454 shares of the financial services provider's stock after purchasing an additional 118,346 shares during the quarter. Cibc World Markets Corp's holdings in Iron Mountain were worth $9,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of Iron Mountain during the 4th quarter worth $16,590,000. Handelsbanken Fonder AB raised its position in shares of Iron Mountain by 42.3% during the 4th quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider's stock valued at $11,343,000 after purchasing an additional 48,170 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Iron Mountain by 6.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider's stock valued at $30,637,000 after purchasing an additional 27,551 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider's stock valued at $285,960,000 after purchasing an additional 1,546,592 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Iron Mountain by 16.4% during the 4th quarter. Hsbc Holdings PLC now owns 419,721 shares of the financial services provider's stock valued at $29,402,000 after purchasing an additional 59,135 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Up 0.5 %

Shares of NYSE IRM traded up $0.43 during trading hours on Friday, hitting $85.27. 480,979 shares of the stock were exchanged, compared to its average volume of 1,385,713. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $53.74 and a 12 month high of $85.36. The company has a market cap of $25.00 billion, a PE ratio of 128.68, a PEG ratio of 4.93 and a beta of 0.95. The firm has a fifty day moving average price of $78.74 and a 200-day moving average price of $73.28.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 3.05%. Iron Mountain's payout ratio is 393.95%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. Barclays lifted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. Finally, TheStreet downgraded shares of Iron Mountain from a "b" rating to a "c" rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.80.

Get Our Latest Analysis on IRM

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 4,458 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now directly owns 62,938 shares of the company's stock, valued at approximately $5,048,256.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the sale, the director now directly owns 35,166 shares of the company's stock, valued at $2,860,050.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Kidd sold 4,458 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company's stock, valued at $5,048,256.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,209 shares of company stock worth $3,639,643. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Company Profile

(Free Report)

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.

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