Vanguard Group Inc. Buys 188,213 Shares of Iron Mountain Incorporated $IRM

Vanguard Group Inc. grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,253,100 shares of the financial services provider’s stock after acquiring an additional 188,213 shares during the period. Vanguard Group Inc. owned 16.00% of Iron Mountain worth $4,816,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IRM. Quent Capital LLC purchased a new position in Iron Mountain during the 3rd quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of Iron Mountain by 111.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after buying an additional 343 shares in the last quarter. City Holding Co. purchased a new position in shares of Iron Mountain during the third quarter valued at $68,000. First Horizon Corp bought a new stake in shares of Iron Mountain in the third quarter valued at about $68,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Iron Mountain in the second quarter valued at about $79,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 1.2%

Shares of IRM opened at $108.54 on Wednesday. The firm has a market cap of $32.11 billion, a PE ratio of 226.11 and a beta of 1.16. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $111.63. The stock has a fifty day moving average price of $89.78 and a 200-day moving average price of $93.82.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be paid 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 payout ratio is presently 720.83%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $83.34, for a total transaction of $5,760,877.50. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 119,607 shares of company stock worth $9,970,025. Corporate insiders own 1.90% 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.