Courier Capital LLC Has $3.09 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Courier Capital LLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,504 shares of the financial services provider’s stock after selling 1,559 shares during the quarter. Courier Capital LLC’s holdings in Iron Mountain were worth $3,088,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IRM. International Assets Investment Management LLC acquired a new stake in Iron Mountain during the 4th quarter valued at $16,590,000. Goldman Sachs Group Inc. lifted its holdings in Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after purchasing an additional 59,381 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in 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 last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in 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 last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of several research reports. The Goldman Sachs Group raised their price target on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company increased their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.33.

Iron Mountain Price Performance

Shares of NYSE IRM traded up $0.41 during mid-day trading on Friday, reaching $89.62. The company had a trading volume of 3,277,654 shares, compared to its average volume of 1,592,688. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain Incorporated has a one year low of $55.02 and a one year high of $90.40. The firm has a market cap of $26.27 billion, a price-to-earnings ratio of 135.18, a PEG ratio of 5.24 and a beta of 0.95. The business’s 50-day simple moving average is $81.96 and its 200 day simple moving average is $75.76.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is currently 393.95%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was 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 $5,048,256.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the sale, the chief operating officer now directly owns 20,366 shares in the company, valued at $1,807,686.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,511 shares of company stock worth $8,787,218. Company insiders own 2.10% of the company’s stock.

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.