Roman Butler Fullerton & Co. Purchases Shares of 11,826 Iron Mountain Incorporated $IRM

Roman Butler Fullerton & Co. acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 11,826 shares of the financial services provider’s stock, valued at approximately $1,447,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Iron Mountain in the 4th quarter valued at about $368,890,000. Cohen & Steers Inc. raised its stake in Iron Mountain by 20.0% in 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 buying an additional 3,155,034 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after buying an additional 2,708,560 shares during the period. Principal Financial Group Inc. lifted its position in shares of Iron Mountain by 66.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock valued at $349,021,000 after buying an additional 1,680,438 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Iron Mountain in the second quarter valued at approximately $202,106,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Up 0.0%

Shares of Iron Mountain stock opened at $129.49 on Monday. The company has a market cap of $38.55 billion, a PE ratio of 92.49 and a beta of 1.20. The company has a 50 day moving average of $124.57 and a 200-day moving average of $116.11. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 247.14%.

Insiders Place Their Bets

In related news, Director Walter C. Rakowich sold 757 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total value of $94,208.65. Following the sale, the director directly owned 1,135 shares of the company’s stock, valued at $141,250.75. This trade represents a 40.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 135,368 shares of company stock worth $16,807,080. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRM. Wall Street Zen lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Barclays upped their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Wells Fargo & Company lifted their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Truist Financial set a $140.00 price objective on Iron Mountain in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.