Moody National Bank Trust Division Sells 8,130 Shares of Iron Mountain Incorporated $IRM

Moody National Bank Trust Division reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 42.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,812 shares of the financial services provider’s stock after selling 8,130 shares during the quarter. Moody National Bank Trust Division’s holdings in Iron Mountain were worth $897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Intact Investment Management Inc. acquired a new position in Iron Mountain during the third quarter valued at approximately $3,588,000. Sei Investments Co. increased its position in shares of Iron Mountain by 4.2% during the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after purchasing an additional 35,301 shares during the last quarter. NewSquare Capital LLC increased its position in shares of Iron Mountain by 4,867.6% during the 3rd quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 11,585 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Iron Mountain by 17.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock worth $10,598,000 after purchasing an additional 15,225 shares in the last quarter. Finally, AGF Management Ltd. raised its stake in shares of Iron Mountain by 178.0% during the 3rd quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock worth $2,262,000 after purchasing an additional 14,205 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Activity at Iron Mountain

In other news, Director Jennifer Allerton sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total transaction of $762,160.00. Following the completion of the sale, the director owned 11,541 shares in the company, valued at approximately $1,256,584.08. This trade represents a 37.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 98,657 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $106.25, for a total transaction of $10,482,306.25. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 451,656 shares of company stock worth $47,428,673. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Trading Down 0.1%

IRM opened at $100.58 on Thursday. The stock’s fifty day simple moving average is $101.74 and its 200 day simple moving average is $96.57. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24. The stock has a market cap of $29.75 billion, a PE ratio of 209.53 and a beta of 1.13.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be given a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.4%. Iron Mountain’s dividend payout ratio is presently 720.83%.

Wall Street Analyst Weigh In

IRM has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Loop Capital set a $130.00 price target on shares of Iron Mountain in a research report on Wednesday, March 4th. Finally, Barclays lifted their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $116.60.

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.