Iron Mountain Incorporated $IRM Shares Sold by Foresight Capital Management Advisors Inc.

Foresight Capital Management Advisors Inc. decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,644 shares of the financial services provider’s stock after selling 8,645 shares during the quarter. Iron Mountain comprises 3.7% of Foresight Capital Management Advisors Inc.’s holdings, making the stock its 2nd largest holding. Foresight Capital Management Advisors Inc.’s holdings in Iron Mountain were worth $7,534,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BDFS Capital LLC bought a new stake in Iron Mountain during the fourth quarter worth $340,000. Allstate Corp lifted its stake in Iron Mountain by 105.1% during the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider’s stock valued at $1,860,000 after acquiring an additional 11,492 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in Iron Mountain by 103.4% during the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider’s stock worth $5,939,000 after acquiring an additional 36,400 shares during the last quarter. Stevens Capital Management LP purchased a new position in Iron Mountain during the 4th quarter worth $1,262,000. Finally, Tectonic Advisors LLC grew its stake in shares of Iron Mountain by 9.7% in the 4th quarter. Tectonic Advisors LLC now owns 162,777 shares of the financial services provider’s stock worth $13,502,000 after acquiring an additional 14,402 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $121.26 on Friday. The firm has a market cap of $36.08 billion, a PE ratio of 86.62 and a beta of 1.20. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68. The stock has a fifty day moving average price of $124.82 and a 200-day moving average price of $114.87.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 380.22%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $126.70, for a total value of $760,200.00. Following the transaction, the executive vice president directly owned 113,507 shares in the company, valued at $14,381,336.90. The trade was a 5.02% decrease in their ownership of the stock. The transaction 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, Director Walter C. Rakowich sold 757 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the transaction, the director directly owned 1,135 shares of the company’s stock, valued at $141,250.75. This represents 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 have sold 92,786 shares of company stock valued at $11,633,760. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial set a $140.00 target price on shares of Iron Mountain in a report on Friday, May 1st. Wall Street Zen downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $135.17.

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.