Iron Mountain (NYSE:IRM) Hits New 52-Week High – Here’s What Happened

Iron Mountain Incorporated (NYSE:IRM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $112.88 and last traded at $112.30, with a volume of 140786 shares traded. The stock had previously closed at $111.19.

Analysts Set New Price Targets

IRM has been the topic of a number of recent analyst reports. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $113.25.

Iron Mountain Trading Up 0.4%

The stock has a market cap of $33.04 billion, a P/E ratio of 233.33 and a beta of 1.16. The stock’s 50-day moving average is $91.71 and its 200-day moving average is $94.26.

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 given a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s payout ratio is presently 720.83%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 38,482 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total transaction of $3,200,547.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the transaction, the executive vice president directly owned 55,081 shares in the company, valued at approximately $4,577,231.10. The trade was a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 119,607 shares of company stock valued at $9,970,025. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. lifted its position in shares of Iron Mountain by 2.0% during the 3rd quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 98 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Iron Mountain by 3.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock valued at $310,000 after buying an additional 103 shares during the last quarter. Continuum Advisory LLC increased its position in Iron Mountain by 5.3% in the 3rd quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock worth $212,000 after buying an additional 104 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Iron Mountain by 15.4% during the fourth quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider’s stock worth $65,000 after buying an additional 104 shares during the last quarter. Finally, Natural Investments LLC boosted its position in shares of Iron Mountain by 3.1% in the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock valued at $365,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.