Wesbanco Bank Inc. Buys 345 Shares of Iron Mountain Incorporated (NYSE:IRM)

Wesbanco Bank Inc. grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 17.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,329 shares of the financial services provider’s stock after purchasing an additional 345 shares during the quarter. Wesbanco Bank Inc.’s holdings in Iron Mountain were worth $245,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IRM. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter worth about $31,000. West Branch Capital LLC bought a new position in Iron Mountain during the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC grew its holdings in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the period. Finally, Quarry LP grew its holdings in Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the period. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IRM shares. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has an average rating of “Buy” and a consensus price target of $131.00.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock worth $13,666,427 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 0.1 %

NYSE IRM opened at $111.17 on Friday. Iron Mountain Incorporated has a 1-year low of $66.20 and a 1-year high of $130.24. The company has a market cap of $32.62 billion, a price-to-earnings ratio of 308.81, a PEG ratio of 6.05 and a beta of 1.02. The company has a 50 day moving average of $110.88 and a 200-day moving average of $112.24.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.57%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Iron Mountain Company 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.