VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 5.9% during the 4th quarter, Holdings Channel reports. The fund owned 124,800 shares of the financial services provider’s stock after selling 7,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Iron Mountain were worth $10,352,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Iron Mountain by 4.5% in the first 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 acquiring an additional 1,286 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Iron Mountain by 10.3% in the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 537 shares in the last quarter. Woodline Partners LP lifted its position 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. EverSource Wealth Advisors LLC lifted its position in Iron Mountain by 29.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider’s stock worth $136,000 after buying an additional 300 shares during the period. Finally, Cerity Partners LLC lifted its position in Iron Mountain by 3.6% during the second quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider’s stock worth $3,620,000 after buying an additional 1,222 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
Iron Mountain Trading Down 0.1%
NYSE IRM opened at $126.09 on Thursday. The business’s 50-day moving average price is $111.27 and its 200 day moving average price is $99.37. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.09. The company has a market capitalization of $37.51 billion, a PE ratio of 138.56 and a beta of 1.20.
Iron Mountain Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Monday, June 15th will be issued a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, June 15th. Iron Mountain’s dividend payout ratio (DPR) is 380.22%.
Insider Transactions at Iron Mountain
In other news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $127.91, for a total value of $767,460.00. Following the transaction, the executive vice president directly owned 119,507 shares in the company, valued at $15,286,140.37. This trade represents a 4.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer Allerton sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $108.88, for a total value of $762,160.00. Following the completion of the transaction, the director owned 11,541 shares in the company, valued at approximately $1,256,584.08. This trade represents a 37.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 498,014 shares of company stock valued at $54,269,373. 1.70% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on IRM. JPMorgan Chase & Co. increased their target price on Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Barclays increased their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.67.
Check Out Our Latest Analysis on Iron Mountain
Iron Mountain Company Profile
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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