Ieq Capital LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) during the second quarter, Holdings Channel reports. The firm purchased 97,425 shares of the financial services provider’s stock, valued at approximately $12,306,000.
Several other hedge funds have also recently bought and sold shares of IRM. Callan Family Office LLC bought a new position in shares of Iron Mountain during the second quarter valued at $1,142,000. Keebeck Wealth Management bought a new stake in shares of Iron Mountain in the 2nd quarter worth about $359,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter worth about $164,000. Allworth Financial LP acquired a new stake in shares of Iron Mountain during the 2nd quarter worth about $9,418,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Iron Mountain during the 2nd quarter worth about $4,322,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.
Iron Mountain Trading Down 0.6%
IRM opened at $122.19 on Friday. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The stock has a market capitalization of $36.38 billion, a PE ratio of 87.28 and a beta of 1.20. The firm has a 50-day moving average price of $124.52 and a two-hundred day moving average price of $117.08.
Iron Mountain Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s payout ratio is 247.14%.
Analyst Ratings Changes
A number of equities analysts have commented on IRM shares. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings upgraded Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Truist Financial set a $140.00 price target on Iron Mountain in a report on Friday, May 1st. Finally, Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.17.
View Our Latest Research Report on Iron Mountain
Insider Buying and Selling at Iron Mountain
In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the sale, the executive vice president directly owned 101,507 shares of the company’s stock, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the sale, the chief executive officer owned 38,474 shares of the company’s stock, valued at approximately $4,681,131.58. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 127,422 shares of company stock worth $15,810,652. Company insiders own 1.70% of the company’s stock.
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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