NewSquare Capital LLC Grows Stock Holdings in Iron Mountain Incorporated $IRM

NewSquare Capital LLC lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4,867.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,823 shares of the financial services provider’s stock after acquiring an additional 11,585 shares during the period. NewSquare Capital LLC’s holdings in Iron Mountain were worth $1,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Quent Capital LLC purchased a new stake in Iron Mountain during the 3rd quarter worth $27,000. Washington Trust Advisors Inc. acquired a new position in shares of Iron Mountain during the third quarter worth about $54,000. Caitlin John LLC acquired a new position in shares of Iron Mountain during the third quarter worth about $61,000. First Horizon Corp purchased a new stake in shares of Iron Mountain in the third quarter worth about $68,000. Finally, City Holding Co. acquired a new stake in shares of Iron Mountain in the third quarter valued at about $68,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Down 0.6%

Shares of IRM opened at $107.15 on Friday. The firm has a market cap of $31.70 billion, a price-to-earnings ratio of 223.23 and a beta of 1.13. The business’s 50 day moving average is $96.37 and its two-hundred day moving average is $95.22. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week 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. This represents a $3.46 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, March 16th. Iron Mountain’s dividend payout ratio is 718.75%.

Insider Buying and Selling at Iron Mountain

In other news, Director Jennifer Allerton sold 7,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total transaction of $762,160.00. Following the transaction, the director owned 11,541 shares of the company’s stock, valued at approximately $1,256,584.08. This trade represents a 37.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 137,133 shares of Iron Mountain stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $109.39, for a total value of $15,000,978.87. Following the completion of the transaction, the chief executive officer owned 295,975 shares of the company’s stock, valued at $32,376,705.25. This trade represents a 31.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 293,274 shares of company stock worth $30,697,937 in the last ninety days. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IRM shares. Loop Capital set a $130.00 price target on Iron Mountain in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Barclays upped their target price on shares of Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Four investment 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 has a consensus rating of “Moderate Buy” and an average target price of $116.60.

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.