Iron Mountain (NYSE:IRM) EVP Sells $6,248,429.50 in Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava sold 59,725 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the sale, the executive vice president directly owned 16,054 shares of the company’s stock, valued at approximately $1,679,569.48. This represents a 78.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Iron Mountain Price Performance

IRM opened at $100.58 on Thursday. The firm has a market capitalization of $29.75 billion, a price-to-earnings ratio of 209.53 and a beta of 1.13. The company’s 50 day simple moving average is $101.74 and its two-hundred day simple moving average is $96.57. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be paid a dividend of $0.864 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.4%. Iron Mountain’s payout ratio is 720.83%.

Hedge Funds Weigh In On Iron Mountain

Several large investors have recently modified their holdings of IRM. Norges Bank purchased a new stake in Iron Mountain in the 4th quarter valued at about $368,890,000. Cohen & Steers Inc. lifted its position in Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after buying an additional 3,155,034 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Iron Mountain by 597.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock worth $322,292,000 after buying an additional 2,708,560 shares during the period. Principal Financial Group Inc. increased its position in shares of Iron Mountain by 66.5% during the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock valued at $349,021,000 after acquiring an additional 1,680,438 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Iron Mountain by 50.6% in the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after acquiring an additional 1,440,629 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the subject of a number of recent research reports. Loop Capital set a $130.00 target price on Iron Mountain in a research note on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Barclays raised their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.60.

About Iron Mountain

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.