JPMorgan Chase & Co. Acquires 83,450 Shares of Iron Mountain Incorporated $IRM

JPMorgan Chase & Co. lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,056,448 shares of the financial services provider’s stock after buying an additional 83,450 shares during the period. JPMorgan Chase & Co.’s holdings in Iron Mountain were worth $209,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IRM. Quent Capital LLC acquired a new position in Iron Mountain during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Iron Mountain by 111.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 343 shares in the last quarter. City Holding Co. bought a new stake in shares of Iron Mountain during the 3rd quarter worth about $68,000. First Horizon Corp acquired a new position in shares of Iron Mountain during the 3rd quarter valued at about $68,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $79,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $83.10, for a total transaction of $498,600.00. Following the transaction, the executive vice president directly owned 55,081 shares in the company, valued at $4,577,231.10. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was 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. In the last 90 days, insiders have sold 119,607 shares of company stock worth $9,970,025. Insiders own 1.90% of the company’s stock.

Iron Mountain Trading Up 1.9%

IRM opened at $110.24 on Friday. The business has a 50 day moving average of $91.13 and a 200-day moving average of $94.11. The stock has a market capitalization of $32.61 billion, a price-to-earnings ratio of 229.66 and a beta of 1.16. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $111.63.

Iron Mountain Dividend Announcement

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