Iron Mountain Incorporated $IRM Shares Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 18.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,667 shares of the financial services provider’s stock after purchasing an additional 8,327 shares during the period. Raiffeisen Bank International AG’s holdings in Iron Mountain were worth $5,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in IRM. Norges Bank purchased a new stake in shares of Iron Mountain during the 2nd quarter valued at about $419,457,000. Invesco Ltd. boosted its holdings in Iron Mountain by 50.6% in the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after acquiring an additional 1,440,629 shares during the period. Vontobel Holding Ltd. acquired a new stake in Iron Mountain in the third quarter valued at approximately $109,941,000. Prudential Financial Inc. raised its stake in shares of Iron Mountain by 44.7% during the second quarter. Prudential Financial Inc. now owns 1,945,769 shares of the financial services provider’s stock valued at $199,578,000 after purchasing an additional 601,290 shares during the period. Finally, Amundi lifted its position in shares of Iron Mountain by 45.5% during the second quarter. Amundi now owns 1,600,818 shares of the financial services provider’s stock worth $159,457,000 after purchasing an additional 500,884 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IRM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Barclays reiterated an “overweight” rating and issued a $126.00 price target on shares of Iron Mountain in a research note on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.10, for a total transaction of $498,600.00. Following the completion of the transaction, the executive vice president directly owned 55,081 shares in the company, valued at $4,577,231.10. This represents a 9.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $83.34, for a total value of $5,760,877.50. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,607 shares of company stock valued at $9,970,025 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $110.24 on Friday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $111.63. The firm’s 50-day moving average is $91.13 and its 200-day moving average is $94.10. The company has a market cap of $32.61 billion, a P/E ratio of 229.66 and a beta of 1.16.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, March 16th. Iron Mountain’s payout ratio is presently 720.83%.

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.