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

Wesbanco Bank Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 17.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,329 shares of the financial services provider’s stock after buying an additional 345 shares during the period. Wesbanco Bank Inc.’s holdings in Iron Mountain were worth $245,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $36,000. Dunhill Financial LLC lifted its stake in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the period. Finally, Quarry LP lifted its stake in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays dropped their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Trading Down 0.1 %

Shares of Iron Mountain stock opened at $111.17 on Friday. The stock’s fifty day simple moving average is $110.88 and its 200 day simple moving average is $112.24. Iron Mountain Incorporated has a 12 month low of $66.20 and a 12 month high of $130.24. The company has a market capitalization of $32.62 billion, a PE ratio of 308.81, a PEG ratio of 6.05 and a beta of 1.02.

Iron Mountain Dividend Announcement

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

Insider Buying and Selling at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 in the last 90 days. 2.10% of the stock is currently owned by company 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.