Iron Mountain Inc (IRM) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in Iron Mountain Inc (NYSE:IRM) by 6.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 26,279 shares of the financial services provider’s stock after selling 1,807 shares during the period. CIBC Asset Management Inc’s holdings in Iron Mountain were worth $932,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IRM. Legal & General Group Plc boosted its position in Iron Mountain by 1.7% in the third quarter. Legal & General Group Plc now owns 1,293,652 shares of the financial services provider’s stock valued at $44,657,000 after buying an additional 22,119 shares in the last quarter. Morgan Stanley boosted its position in Iron Mountain by 45.8% in the third quarter. Morgan Stanley now owns 4,508,612 shares of the financial services provider’s stock valued at $155,638,000 after buying an additional 1,416,410 shares in the last quarter. Vanguard Group Inc boosted its position in Iron Mountain by 0.3% in the third quarter. Vanguard Group Inc now owns 43,901,848 shares of the financial services provider’s stock valued at $1,515,491,000 after buying an additional 138,607 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth approximately $258,000. Finally, Bank of Montreal Can lifted its position in shares of Iron Mountain by 1.0% during the fourth quarter. Bank of Montreal Can now owns 324,138 shares of the financial services provider’s stock worth $10,506,000 after purchasing an additional 3,181 shares in the last quarter. Institutional investors own 87.50% of the company’s stock.

In related news, CFO Stuart B. Brown sold 2,200 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $31.65, for a total value of $69,630.00. Following the transaction, the chief financial officer now directly owns 18,525 shares in the company, valued at $586,316.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ernest W. Cloutier sold 46,014 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.41, for a total transaction of $1,675,369.74. Following the completion of the transaction, the executive vice president now owns 109,757 shares in the company, valued at $3,996,252.37. The disclosure for this sale can be found here. Insiders sold 62,302 shares of company stock worth $2,243,740 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on IRM. TheStreet lowered shares of Iron Mountain from a “b-” rating to a “c+” rating in a research report on Tuesday, May 14th. Robert W. Baird lowered shares of Iron Mountain from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $34.00 to $27.00 in a research report on Friday, April 26th. Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Mitsubishi UFJ Financial Group upped their target price on shares of Iron Mountain to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 20th. Finally, Credit Suisse Group reiterated an “underperform” rating on shares of Iron Mountain in a research report on Tuesday, February 19th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.13.

Shares of IRM stock opened at $31.62 on Thursday. Iron Mountain Inc has a 1 year low of $30.22 and a 1 year high of $37.32. The company has a market cap of $9.13 billion, a PE ratio of 14.81, a P/E/G ratio of 3.07 and a beta of 0.63. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.75.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). Iron Mountain had a return on equity of 19.61% and a net margin of 8.22%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. Iron Mountain’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts predict that Iron Mountain Inc will post 2.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 17th will be issued a $0.611 dividend. This represents a $2.44 annualized dividend and a yield of 7.73%. Iron Mountain’s dividend payout ratio is currently 106.09%.

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About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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