NewEdge Advisors LLC Grows Holdings in Iron Mountain Incorporated $IRM

NewEdge Advisors LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 66.4% in the 1st quarter, Holdings Channel reports. The firm owned 41,818 shares of the financial services provider’s stock after purchasing an additional 16,692 shares during the quarter. NewEdge Advisors LLC’s holdings in Iron Mountain were worth $4,271,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Dynamic Wealth Strategies LLC purchased a new position in Iron Mountain in the 1st quarter worth about $31,000. Garton & Associates Financial Advisors LLC purchased a new stake in Iron Mountain in the 4th quarter valued at about $25,000. Johnson Financial Group Inc. purchased a new stake in Iron Mountain in the 3rd quarter valued at about $32,000. Beaird Harris Wealth Management LLC grew its stake in Iron Mountain by 17,500.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter. Finally, Bayban bought a new position in Iron Mountain in the 4th quarter worth about $33,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.7%

Shares of NYSE:IRM opened at $124.51 on Thursday. The company has a market capitalization of $37.07 billion, a price-to-earnings ratio of 88.94 and a beta of 1.20. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The firm has a 50 day moving average of $124.54 and a 200 day moving average of $115.62.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a $0.864 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. Iron Mountain’s dividend payout ratio (DPR) is currently 247.14%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their price objective on Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Wells Fargo & Company increased their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $135.17.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the sale, the chief executive officer owned 38,474 shares of the company’s stock, valued at $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of Iron Mountain stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $125.50, for a total value of $902,219.50. 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 quarter, insiders sold 135,368 shares of company stock valued at $16,807,080. 1.70% of the stock is currently owned by insiders.

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.