Insider Selling: Iron Mountain (NYSE:IRM) EVP Sells 6,000 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $122.70, for a total transaction of $736,200.00. Following the transaction, the executive vice president owned 101,507 shares in the company, valued at $12,454,908.90. This represents a 5.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Kidd also recently made the following trade(s):

• On Monday, June 1st, Mark Kidd sold 6,000 shares of Iron Mountain stock. The stock was sold at an average price of $126.70, for a total transaction of $760,200.00.

Iron Mountain Trading Up 0.1%

Iron Mountain stock traded up $0.15 during mid-day trading on Monday, hitting $121.30. 2,008,402 shares of the company’s stock were exchanged, compared to its average volume of 1,798,902. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The stock has a 50 day moving average of $124.82 and a two-hundred day moving average of $115.00. The stock has a market cap of $36.09 billion, a P/E ratio of 86.64 and a beta of 1.20.

Iron Mountain Dividend Announcement

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 paid a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio is 247.14%.

Analyst Ratings Changes

A number of research analysts recently weighed in on IRM shares. Truist Financial set a $140.00 price objective on Iron Mountain in a research note on Friday, May 1st. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Barclays lifted their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.17.

Institutional Trading of Iron Mountain

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Iron Mountain in the 2nd quarter valued at $4,240,342,000. Norges Bank acquired a new position in shares of Iron Mountain in the 4th quarter valued at $368,890,000. Cohen & Steers Inc. boosted its position in shares of Iron Mountain by 20.0% during the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after acquiring an additional 3,155,034 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at about $385,129,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 acquiring an additional 2,708,560 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

About Iron Mountain

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.