Barclays PLC Purchases 196,194 Shares of Iron Mountain Incorporated $IRM

Key Points

• Barclays PLC increased its stake in Iron Mountain by 36.1%, buying 196,194 shares to own 739,890 shares (about 0.25% of the company) valued at roughly $75.42 million at quarter-end.
• Iron Mountain declared a quarterly dividend of $0.864 ($3.46 annualized) with a 3.3% yield, payable April 3 and with an ex‑dividend/record date of March 16, despite a very high reported payout ratio of 718.75%.
• Insiders have been net sellers, offloading 293,274 shares over the past 90 days worth about $30.7 million, including notable sales by EVP Mark Kidd and Director Jennifer Allerton.

Barclays PLC lifted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 36.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 739,890 shares of the financial services provider's stock after purchasing an additional 196,194 shares during the quarter. Barclays PLC owned 0.25% of Iron Mountain worth $75,424,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC bought a new position in Iron Mountain during the third quarter valued at $27,000. Washington Trust Advisors Inc. bought a new stake in shares of Iron Mountain in the 3rd quarter worth about $54,000. Caitlin John LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $61,000. First Horizon Corp bought a new position in shares of Iron Mountain in the 3rd quarter valued at about $68,000. Finally, City Holding Co. bought a new position in shares of Iron Mountain in the 3rd quarter valued at about $68,000. Institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IRM shares. Barclays upped their price objective on Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. Weiss Ratings reiterated 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 Iron Mountain in a report on Wednesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $116.60.

Iron Mountain Trading Down 2.0%

IRM opened at $105.17 on Monday. The company has a market capitalization of $31.11 billion, a price-to-earnings ratio of 219.10 and a beta of 1.13. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24. The business's fifty day simple moving average is $96.83 and its 200-day simple moving average is $95.37.

Iron Mountain Dividend Announcement

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 given a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain's dividend payout ratio is presently 718.75%.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total value of $643,620.00. Following the transaction, the executive vice president directly owned 131,507 shares in the company, valued at approximately $14,106,755.89. This trade represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer Allerton sold 7,000 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $108.88, for a total value of $762,160.00. Following the completion of the transaction, the director directly owned 11,541 shares of the company's stock, valued at approximately $1,256,584.08. The trade was a 37.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 293,274 shares of company stock worth $30,697,937. 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.

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