Iron Mountain Incorporated $IRM Holdings Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 24.4% in the second quarter, HoldingsChannel.com reports. The firm owned 189,498 shares of the financial services provider’s stock after purchasing an additional 37,216 shares during the quarter. Handelsbanken Fonder AB’s holdings in Iron Mountain were worth $23,935,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BDFS Capital LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $340,000. Allstate Corp increased its holdings in Iron Mountain by 105.1% during the 4th quarter. Allstate Corp now owns 22,427 shares of the financial services provider’s stock worth $1,860,000 after purchasing an additional 11,492 shares during the period. Intact Investment Management Inc. increased its holdings in Iron Mountain by 103.4% during the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider’s stock worth $5,939,000 after purchasing an additional 36,400 shares during the period. Stevens Capital Management LP bought a new stake in Iron Mountain during the 4th quarter valued at $1,262,000. Finally, Nomura Asset Management Co. Ltd. raised its position in Iron Mountain by 2.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 544,483 shares of the financial services provider’s stock valued at $45,165,000 after purchasing an additional 15,435 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM stock opened at $124.51 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The firm has a market capitalization of $37.07 billion, a price-to-earnings ratio of 88.94 and a beta of 1.20. The stock’s 50-day simple moving average is $124.54 and its 200-day simple moving average is $115.62.

Iron Mountain Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Truist Financial set a $140.00 price objective on shares of Iron Mountain in a report on Friday, May 1st. Finally, Barclays boosted their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.17.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the sale, the executive vice president directly owned 101,507 shares of the company’s stock, valued at $12,454,908.90. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction that occurred on 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 directly owned 38,474 shares in the company, valued at $4,681,131.58. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,368 shares of company stock worth $16,807,080 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

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.