Fieldview Capital Management LLC lifted its stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 20.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,518 shares of the financial services provider’s stock after purchasing an additional 6,187 shares during the period. Fieldview Capital Management LLC’s holdings in Iron Mountain were worth $3,029,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Iron Mountain by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider’s stock valued at $4,816,981,000 after purchasing an additional 188,213 shares during the period. Cohen & Steers Inc. grew its holdings in Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares during the period. State Street Corp grew its holdings in Iron Mountain by 1.9% during the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after purchasing an additional 322,144 shares during the period. Geode Capital Management LLC grew its holdings in Iron Mountain by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock worth $685,374,000 after purchasing an additional 102,073 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Iron Mountain by 18.1% during the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock worth $516,481,000 after acquiring an additional 776,933 shares during the period. 80.13% of the stock is currently owned by institutional investors.
Iron Mountain Stock Performance
NYSE:IRM opened at $127.20 on Friday. The firm has a market cap of $37.85 billion, a price-to-earnings ratio of 139.78 and a beta of 1.19. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.09. The firm has a 50-day moving average price of $121.04 and a two-hundred day moving average price of $103.77.
Iron Mountain Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. Iron Mountain’s dividend payout ratio is currently 380.22%.
Insider Activity
In other news, EVP Mithu Bhargava sold 59,725 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the completion of the transaction, the executive vice president directly owned 16,054 shares of the company’s stock, valued at $1,679,569.48. This represents a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 7,189 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $125.50, for a total transaction of $902,219.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 202,985 shares of company stock worth $23,452,265. 1.70% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on IRM. Truist Financial set a $140.00 price target on shares of Iron Mountain in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Wells Fargo & Company raised their target price on Iron Mountain from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $131.67.
View Our Latest Report on Iron Mountain
Iron Mountain 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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