BDFS Capital LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,061 shares of the financial services provider’s stock, valued at approximately $340,000.
A number of other large investors also recently added to or reduced their stakes in IRM. NewSquare Capital LLC lifted its holdings in shares of Iron Mountain by 4,867.6% during the third quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 11,585 shares in the last quarter. Fieldview Capital Management LLC bought a new stake in Iron Mountain in the 3rd quarter worth about $3,092,000. Centersquare Investment Management LLC raised its position in Iron Mountain by 23.8% in the 3rd quarter. Centersquare Investment Management LLC now owns 2,514,464 shares of the financial services provider’s stock worth $256,324,000 after buying an additional 483,548 shares during the last quarter. Citigroup Inc. lifted its stake in Iron Mountain by 105.3% during the 3rd quarter. Citigroup Inc. now owns 419,723 shares of the financial services provider’s stock valued at $42,787,000 after acquiring an additional 215,308 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Iron Mountain by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,056,448 shares of the financial services provider’s stock valued at $209,634,000 after acquiring an additional 83,450 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
Iron Mountain Trading Up 1.9%
Shares of NYSE IRM opened at $127.78 on Friday. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.09. The firm has a market capitalization of $38.02 billion, a price-to-earnings ratio of 140.42 and a beta of 1.19. The firm has a 50 day moving average of $122.88 and a 200 day moving average of $105.05.
Iron Mountain Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. Iron Mountain’s payout ratio is currently 380.22%.
Insider Buying and Selling at Iron Mountain
In other Iron Mountain news, CAO Daniel Borges sold 7,189 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $125.50, for a total value of $902,219.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $126.70, for a total value of $760,200.00. Following the completion of the transaction, the executive vice president directly owned 113,507 shares in the company, valued at $14,381,336.90. This trade represents a 5.02% decrease in their position. 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 a total of 143,260 shares of company stock valued at $17,203,835 in the last ninety days. 1.70% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
IRM has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Barclays increased their price target on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Truist Financial set a $140.00 price objective on Iron Mountain in a report on Friday, May 1st. Finally, Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.67.
Read Our Latest Analysis 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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