10,860 Shares in Iron Mountain Incorporated $IRM Bought by J.M. Arbour LLC

Key Points

• J.M. Arbour LLC bought a new position of 10,860 shares of Iron Mountain (NYSE:IRM) in the fourth quarter, valued at about $901,000.
• Company insiders — including EVP Mithu Bhargava and CEO William L. Meaney — sold substantial stock, with total insider sales of 451,648 shares worth about $48.3M in the last quarter, leaving insiders with 1.7% ownership.
• Iron Mountain paid a quarterly dividend of $0.864 (annualized $3.46) on April 3, implying a 2.9% yield but an unusually high payout ratio of 720.83%.

J.M. Arbour LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,860 shares of the financial services provider's stock, valued at approximately $901,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Koshinski Asset Management Inc. increased its position in Iron Mountain by 2.0% during the third quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider's stock worth $521,000 after acquiring an additional 98 shares during the period. NorthCrest Asset Manangement LLC increased its position in Iron Mountain by 3.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider's stock worth $310,000 after acquiring an additional 103 shares during the period. Continuum Advisory LLC increased its position in Iron Mountain by 5.3% during the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider's stock worth $212,000 after acquiring an additional 104 shares during the period. Natural Investments LLC increased its position in Iron Mountain by 3.1% during the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider's stock worth $365,000 after acquiring an additional 107 shares during the period. Finally, Merit Financial Group LLC increased its position in Iron Mountain by 0.5% during the third quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider's stock worth $2,032,000 after acquiring an additional 109 shares during the period. Institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $117.59 on Friday. The firm has a market capitalization of $34.98 billion, a PE ratio of 244.98 and a beta of 1.13. The company's fifty day moving average price is $106.11 and its two-hundred day moving average price is $97.32. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $118.02.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Monday, March 16th were issued a $0.864 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 2.9%. Iron Mountain's dividend payout ratio is presently 720.83%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Zacks Research lowered shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a report on Monday. Barclays boosted their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a report on Thursday, January 22nd. Finally, Loop Capital set a $130.00 price target on shares of Iron Mountain in a report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $122.00.

Insider Activity

In related news, EVP Mithu Bhargava sold 59,725 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the transaction, the executive vice president owned 16,054 shares in the company, valued at $1,679,569.48. This represents a 78.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 38,474 shares of the company'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 transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $3,951,664.54. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 451,648 shares of company stock worth $48,297,449 in the last quarter. 1.70% of the stock is owned by company insiders.

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.

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