National Pension Service grew its holdings in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 509,020 shares of the financial services provider’s stock after buying an additional 13,540 shares during the quarter. National Pension Service’s holdings in Iron Mountain were worth $42,223,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IRM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after buying an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Iron Mountain by 66.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock valued at $349,021,000 after buying an additional 1,680,438 shares in the last quarter. Invesco Ltd. increased its stake in shares of Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after buying an additional 776,933 shares in the last quarter. Centersquare Investment Management LLC increased its stake in shares of Iron Mountain by 23.8% in the third quarter. Centersquare Investment Management LLC now owns 2,514,464 shares of the financial services provider’s stock valued at $256,324,000 after buying an additional 483,548 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Iron Mountain by 331.5% in the third quarter. AQR Capital Management LLC now owns 457,472 shares of the financial services provider’s stock worth $46,356,000 after purchasing an additional 351,463 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.
Iron Mountain Stock Down 0.1%
Shares of IRM stock opened at $128.15 on Monday. The stock has a 50-day moving average price of $115.91 and a 200 day moving average price of $101.34. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 140.83 and a beta of 1.19. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.09.
Iron Mountain Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Monday, June 15th will be issued a dividend of $0.864 per share. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.7%. Iron Mountain’s dividend payout ratio (DPR) is 380.22%.
Insider Activity
In other Iron Mountain news, Director Pamela M. Arway sold 1,892 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $128.97, for a total transaction of $244,011.24. Following the transaction, the director owned 40,196 shares in the company, valued at approximately $5,184,078.12. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mithu Bhargava sold 59,725 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $104.62, for a total value of $6,248,429.50. Following the transaction, the executive vice president owned 16,054 shares in the company, valued at approximately $1,679,569.48. This trade represents a 78.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 355,827 shares of company stock valued at $38,859,043. Insiders own 1.70% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Loop Capital set a $130.00 price objective on Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Tuesday, April 21st. Truist Financial set a $140.00 price objective on Iron Mountain in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company lifted their price objective on Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.67.
Read Our Latest Research Report 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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