Iron Mountain Incorporated $IRM Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 47,253,100 shares of the financial services provider’s stock after buying an additional 188,213 shares during the period. Vanguard Group Inc. owned 0.16% of Iron Mountain worth $4,816,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IRM. Norges Bank acquired a new stake in shares of Iron Mountain in the second quarter worth $419,457,000. Invesco Ltd. boosted its holdings in Iron Mountain by 50.6% in the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after purchasing an additional 1,440,629 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Iron Mountain during the 3rd quarter worth about $109,941,000. Prudential Financial Inc. raised its stake in shares of Iron Mountain by 44.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,945,769 shares of the financial services provider’s stock valued at $199,578,000 after buying an additional 601,290 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Iron Mountain by 45.5% in the 2nd quarter. Amundi now owns 1,600,818 shares of the financial services provider’s stock valued at $159,457,000 after buying an additional 500,884 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IRM has been the topic of a number of recent research reports. Barclays restated an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 38,482 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total transaction of $498,600.00. Following 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. The SEC filing for this sale provides additional information. Insiders sold a total of 119,607 shares of company stock worth $9,970,025 in the last three months. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Trading Down 1.2%

NYSE IRM opened at $108.54 on Wednesday. The stock has a market capitalization of $32.11 billion, a price-to-earnings ratio of 226.11 and a beta of 1.16. The stock has a 50-day moving average of $89.78 and a 200 day moving average of $93.82. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $111.63.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be given a dividend of $0.864 per share. The ex-dividend date is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.2%. Iron Mountain’s dividend payout ratio (DPR) is 720.83%.

Iron Mountain 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.