Iron Mountain (NYSE:IRM) EVP Sells $6,248,429.50 in Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mithu Bhargava sold 59,725 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the completion of the sale, the executive vice president directly owned 16,054 shares of the company’s stock, valued at $1,679,569.48. The trade was a 78.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Iron Mountain Stock Up 2.5%

Iron Mountain stock traded up $2.49 during trading hours on Monday, hitting $102.10. 1,566,668 shares of the company traded hands, compared to its average volume of 1,952,092. The firm has a market cap of $30.20 billion, a P/E ratio of 212.71 and a beta of 1.13. The firm’s 50-day simple moving average is $101.13 and its two-hundred day simple moving average is $96.41. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24.

Iron Mountain Dividend Announcement

The business also recently disclosed 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 is Monday, March 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 720.83%.

Analyst Ratings Changes

IRM has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Barclays boosted their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Loop Capital set a $130.00 price objective on Iron Mountain in a report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.60.

Institutional Trading of Iron Mountain

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRM. Norges Bank acquired a new stake in Iron Mountain in the 4th quarter worth approximately $368,890,000. Cohen & Steers Inc. grew its holdings in Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after purchasing an additional 3,155,034 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after purchasing an additional 2,708,560 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Iron Mountain by 66.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock worth $349,021,000 after buying an additional 1,680,438 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after buying an additional 1,440,629 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

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.