Pensionfund Sabic Makes New $1.56 Million Investment in Iron Mountain Incorporated $IRM

Pensionfund Sabic acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,800 shares of the financial services provider’s stock, valued at approximately $1,559,000.

A number of other large investors have also modified their holdings of IRM. Quent Capital LLC acquired a new stake in Iron Mountain during the third quarter worth $27,000. Johnson Financial Group Inc. acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $32,000. Wealth Watch Advisors INC bought a new position in shares of Iron Mountain during the 3rd quarter worth about $44,000. Washington Trust Advisors Inc. bought a new position in shares of Iron Mountain during the 3rd quarter worth about $54,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at about $56,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 98,657 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $106.25, for a total value of $10,482,306.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the transaction, the executive vice president directly owned 131,507 shares in the company, valued at approximately $14,106,755.89. The trade was a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 451,656 shares of company stock valued at $47,428,673. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Down 1.3%

Shares of NYSE:IRM opened at $100.58 on Wednesday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24. The stock has a market capitalization of $29.75 billion, a P/E ratio of 209.54 and a beta of 1.13. The business has a 50-day moving average price of $101.55 and a two-hundred day moving average price of $96.55.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors 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 dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s payout ratio is 720.83%.

Analyst Ratings Changes

Several research firms recently issued reports on IRM. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Loop Capital set a $130.00 price objective on Iron Mountain in a report on Wednesday, March 4th. Finally, Barclays upped their price objective on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research note 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 company currently has an average rating of “Moderate Buy” and an average price target 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.