Iron Mountain Incorporated $IRM Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,266 shares of the financial services provider’s stock after selling 4,766 shares during the quarter. Janus Henderson Group PLC’s holdings in Iron Mountain were worth $3,399,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dynamic Wealth Strategies LLC purchased a new stake in shares of Iron Mountain in the first quarter valued at about $31,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $25,000. Johnson Financial Group Inc. purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC increased its holdings in shares of Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after buying an additional 350 shares during the last quarter. Finally, Bayban purchased a new stake in shares of Iron Mountain during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen cut Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Barclays boosted their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Truist Financial set a $140.00 price target on shares of Iron Mountain in a research report on Friday, May 1st. Weiss Ratings raised shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company increased their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $135.17.

Insider Activity

In related news, CAO Daniel Borges sold 7,189 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $125.50, for a total transaction of $902,219.50. The sale was disclosed in a 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, Director Walter C. Rakowich sold 757 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total value of $94,208.65. Following the completion of the sale, the director owned 1,135 shares in the company, valued at approximately $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 three months, insiders sold 92,786 shares of company stock valued at $11,633,760. 1.70% of the stock is owned by corporate insiders.

Iron Mountain Trading Down 0.6%

Iron Mountain stock opened at $121.26 on Friday. The firm has a market capitalization of $36.08 billion, a P/E ratio of 86.62 and a beta of 1.20. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The stock’s fifty day simple moving average is $124.82 and its 200-day simple moving average is $114.87.

Iron Mountain Announces Dividend

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

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.