CIBC Private Wealth Group LLC Sells 12,162 Shares of Iron Mountain Incorporated $IRM

Key Points

• CIBC Private Wealth Group LLC reduced its Iron Mountain stake by 1.7%, selling 12,162 shares and retaining 721,087 shares (about 0.24% of the company) worth roughly $73.5M.
• Iron Mountain declared a quarterly dividend of $0.864 (annualized $3.46) for a yield of 3.3%, but its dividend payout ratio is an unusually high 720.83%, raising sustainability concerns.
• Insiders have been net sellers—about 391,931 shares ($41.18M) over the past 90 days—while institutions own ~80% of the stock (Vanguard ~47.06M shares); analysts' consensus is a "Moderate Buy" with a $116.60 target.

CIBC Private Wealth Group LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 721,087 shares of the financial services provider's stock after selling 12,162 shares during the period. CIBC Private Wealth Group LLC owned about 0.24% of Iron Mountain worth $73,508,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Iron Mountain by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after buying an additional 1,286 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock worth $493,000 after buying an additional 537 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Iron Mountain by 41.0% in the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock valued at $2,129,000 after acquiring an additional 7,193 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Iron Mountain by 0.4% in the second quarter. Cetera Investment Advisers now owns 169,452 shares of the financial services provider's stock valued at $17,381,000 after acquiring an additional 709 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Iron Mountain by 0.5% during the second quarter. Vanguard Group Inc. now owns 47,064,887 shares of the financial services provider's stock valued at $4,827,445,000 after acquiring an additional 239,153 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Down 1.9%

Shares of IRM stock opened at $105.94 on Thursday. The firm has a market cap of $31.34 billion, a P/E ratio of 220.71 and a beta of 1.13. The company has a 50 day moving average of $100.56 and a 200-day moving average of $96.20. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be given a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain's dividend payout ratio (DPR) is currently 720.83%.

Analysts Set New Price Targets

IRM has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Finally, Barclays lifted their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Iron Mountain currently has an average rating of "Moderate Buy" and a consensus target price of $116.60.

Insiders Place Their Bets

In other Iron Mountain news, Director Jennifer Allerton sold 7,000 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $108.88, for a total value of $762,160.00. Following the sale, the director directly owned 11,541 shares in the company, valued at $1,256,584.08. The trade was a 37.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $107.27, for a total value of $643,620.00. Following the transaction, the executive vice president directly owned 131,507 shares in the company, valued at $14,106,755.89. This represents a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 391,931 shares of company stock valued at $41,180,243 over the last ninety days. 1.90% of the stock is currently owned by insiders.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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