MASTERINVEST Kapitalanlage GmbH bought a new stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,228 shares of the financial services provider’s stock, valued at approximately $2,681,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Sanctuary Advisors LLC bought a new position in Iron Mountain in the second quarter worth $17,300,000. BDFS Capital LLC bought a new stake in Iron Mountain in the 4th quarter valued at $340,000. Allstate Corp increased its holdings in Iron Mountain by 105.1% in the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider’s stock valued at $1,860,000 after buying an additional 11,492 shares during the period. Intact Investment Management Inc. raised its stake in shares of Iron Mountain by 103.4% in the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider’s stock valued at $5,939,000 after buying an additional 36,400 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of Iron Mountain in the 4th quarter valued at $1,262,000. 80.13% of the stock is currently owned by institutional investors.
Iron Mountain Stock Performance
Shares of NYSE IRM opened at $122.72 on Friday. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The business has a fifty day moving average of $124.09 and a two-hundred day moving average of $118.14. The stock has a market cap of $36.53 billion, a PE ratio of 87.66 and a beta of 1.20.
Iron Mountain Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s dividend payout ratio is currently 247.14%.
Insider Activity
In other news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 101,507 shares of the company’s stock, valued at $12,454,908.90. The trade was a 5.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 127,422 shares of company stock worth $15,810,652 over the last ninety days. Insiders own 1.70% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on IRM shares. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings lowered shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Barclays upped their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.67.
Get Our Latest Research Report on IRM
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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