Citizens Business Bank Sells 200 Shares of Iron Mountain Incorporated (NYSE:IRM)

Citizens Business Bank lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,800 shares of the financial services provider’s stock after selling 200 shares during the period. Citizens Business Bank’s holdings in Iron Mountain were worth $399,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new position in Iron Mountain during the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain during the fourth quarter worth approximately $26,000. Key Financial Inc boosted its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. bought a new stake in Iron Mountain in the 4th quarter worth $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IRM shares. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $121.29.

Iron Mountain Stock Performance

IRM stock opened at $97.18 on Thursday. The company has a market cap of $28.66 billion, a price-to-earnings ratio of 159.31, a P/E/G ratio of 5.15 and a beta of 1.08. The business’s 50-day moving average is $86.20 and its two-hundred day moving average is $101.68. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company earned $1.10 EPS. Iron Mountain’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.23%. Iron Mountain’s payout ratio is currently 765.85%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,112,345 over the last three months. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Profile

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.