Vectors Research Management LLC decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 34.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 24,565 shares of the financial services provider’s stock after selling 13,060 shares during the period. Vectors Research Management LLC’s holdings in Iron Mountain were worth $2,509,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Wealthfront Advisers LLC boosted its stake in Iron Mountain by 3.5% in the 1st quarter. Wealthfront Advisers LLC now owns 69,793 shares of the financial services provider’s stock worth $7,129,000 after buying an additional 2,354 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Iron Mountain by 17.9% in the first quarter. D.A. Davidson & CO. now owns 38,481 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 5,832 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH lifted its holdings in shares of Iron Mountain by 7.7% during the 1st quarter. MASTERINVEST Kapitalanlage GmbH now owns 21,228 shares of the financial services provider’s stock valued at $2,168,000 after acquiring an additional 1,511 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Iron Mountain by 0.4% during the 1st quarter. Sanctuary Advisors LLC now owns 138,123 shares of the financial services provider’s stock worth $14,108,000 after purchasing an additional 493 shares during the period. Finally, Adell Harriman & Carpenter Inc. boosted its position in Iron Mountain by 0.4% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 315,817 shares of the financial services provider’s stock worth $32,258,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.
Iron Mountain Stock Up 0.8%
Shares of NYSE:IRM opened at $123.61 on Thursday. The company has a market cap of $36.78 billion, a PE ratio of 135.83 and a beta of 1.19. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The firm has a 50-day simple moving average of $125.66 and a 200 day simple moving average of $110.60.
Iron Mountain Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 15th. Iron Mountain’s dividend payout ratio is currently 379.12%.
Insider Buying and Selling
In other Iron Mountain news, CAO Daniel Borges sold 7,189 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the completion of the sale, the director directly owned 1,135 shares of the company’s stock, valued at $141,250.75. The trade was a 40.01% 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. In the last quarter, insiders sold 137,260 shares of company stock worth $17,361,672. Company insiders own 1.70% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on IRM. Truist Financial set a $140.00 price target on shares of Iron Mountain in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Wall Street Zen upgraded Iron Mountain from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Barclays lifted their price objective on Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Finally, Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $134.33.
View Our Latest Stock Report on IRM
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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