Iron Mountain (NYSE:IRM) Reaches New 12-Month High – Here’s What Happened
by Jessica Moore · The Cerbat GemIron Mountain Incorporated (NYSE:IRM – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $115.40 and last traded at $115.2040, with a volume of 52811 shares changing hands. The stock had previously closed at $113.55.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Zacks Research cut Iron Mountain from a “hold” rating to a “strong sell” rating in a report on Monday. Loop Capital set a $130.00 price objective on Iron Mountain in a report on Wednesday, March 4th. Finally, Barclays lifted their price objective on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Iron Mountain has an average rating of “Hold” and a consensus target price of $122.00.
Get Our Latest Stock Report on IRM
Iron Mountain Stock Up 1.9%
The stock has a fifty day moving average of $105.54 and a 200-day moving average of $97.18. The firm has a market capitalization of $34.42 billion, a P/E ratio of 241.11 and a beta of 1.13.
Iron Mountain Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Monday, March 16th were issued a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, March 16th. Iron Mountain’s payout ratio is currently 720.83%.
Insider Transactions at Iron Mountain
In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total transaction of $3,951,664.54. Following the completion of the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $3,951,664.54. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total value of $616,260.00. Following the sale, the executive vice president directly owned 125,507 shares of the company’s stock, valued at $12,890,823.97. This represents a 4.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 451,648 shares of company stock valued at $48,297,449. 1.70% of the stock is owned by company insiders.
Institutional Trading of Iron Mountain
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. raised its holdings in 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 raised its holdings in Iron Mountain by 3.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 103 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Iron Mountain by 5.3% during 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 grew its position in shares of Iron Mountain by 15.4% during the 4th 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 period. Finally, Natural Investments LLC grew its position in shares of Iron Mountain by 3.1% during the 3rd quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock worth $365,000 after buying an additional 107 shares during the period. 80.13% of the stock is owned by institutional investors.
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.