Iron Mountain Incorporated $IRM Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,266 shares of the financial services provider’s stock after selling 4,766 shares during the period. Janus Henderson Group PLC’s holdings in Iron Mountain were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in IRM. BDFS Capital LLC purchased a new position in Iron Mountain during the 4th quarter worth $340,000. Allstate Corp grew its holdings in shares of Iron Mountain by 105.1% during the fourth quarter. Allstate Corp now owns 22,427 shares of the financial services provider’s stock worth $1,860,000 after buying an additional 11,492 shares during the last quarter. Intact Investment Management Inc. increased its position in Iron Mountain by 103.4% in the 4th quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider’s stock valued at $5,939,000 after acquiring an additional 36,400 shares during the period. Stevens Capital Management LP purchased a new stake in Iron Mountain during the 4th quarter valued at approximately $1,262,000. Finally, Tectonic Advisors LLC lifted its position in Iron Mountain by 9.7% during the 4th quarter. Tectonic Advisors LLC now owns 162,777 shares of the financial services provider’s stock worth $13,502,000 after acquiring an additional 14,402 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IRM shares. Wall Street Zen lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Truist Financial set a $140.00 price objective on shares of Iron Mountain in a research note on Friday, May 1st. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company lifted their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $135.17.

Iron Mountain Price Performance

Iron Mountain stock opened at $121.26 on Friday. The stock’s 50 day moving average price is $124.82 and its 200 day moving average price is $114.87. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The company has a market cap of $36.08 billion, a PE ratio of 86.62 and a beta of 1.20.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.864 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.9%. Iron Mountain’s dividend payout ratio is 380.22%.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $126.70, for a total value of $760,200.00. Following the completion of the sale, the executive vice president owned 113,507 shares in the company, valued at $14,381,336.90. This trade represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 92,786 shares of company stock worth $11,633,760. Insiders own 1.70% of the company’s stock.

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.