Roman Butler Fullerton & Co. Makes New Investment in Iron Mountain Incorporated $IRM

Roman Butler Fullerton & Co. acquired a new position in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,826 shares of the financial services provider’s stock, valued at approximately $1,447,000.

A number of other hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. boosted its position 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 acquiring an additional 3,155,034 shares during the last quarter. State Street Corp raised its position in shares of Iron Mountain by 1.9% in the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after acquiring an additional 322,144 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Iron Mountain by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock worth $685,374,000 after acquiring an additional 102,073 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after purchasing an additional 776,933 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Iron Mountain by 8.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock valued at $466,382,000 after purchasing an additional 358,497 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.0%

IRM stock opened at $129.49 on Monday. The firm has a market capitalization of $38.55 billion, a PE ratio of 92.49 and a beta of 1.20. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The stock’s 50 day moving average is $124.57 and its 200-day moving average is $116.11.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a $0.864 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 2.7%. Iron Mountain’s dividend payout ratio is presently 247.14%.

Insider Activity

In other news, CEO William L. Meaney sold 38,474 shares of the business’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 value of $4,681,131.58. Following the transaction, the chief executive officer owned 38,474 shares in the company, valued at $4,681,131.58. The trade was a 50.00% decrease in their position. The sale was disclosed in a 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, CAO Daniel Borges sold 7,189 shares of the firm’s stock in a transaction on 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 three months, insiders have sold 135,368 shares of company stock worth $16,807,080. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Truist Financial set a $140.00 price objective on shares of Iron Mountain in a research report on Friday, May 1st. Finally, Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.17.

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.