Border to Coast Pensions Partnership Ltd Boosts Holdings in Iron Mountain Incorporated $IRM

Key Points

• Border to Coast increased its stake in Iron Mountain by 4.2% in Q4, buying 20,000 shares to hold 500,000 shares (about 0.17% of the company) valued at roughly $41.55 million.
• Significant insider selling: insiders sold 451,648 shares worth about $48.30 million over the last quarter, including EVP Mark Kidd (6,000 shares) and Director Jennifer Allerton (7,000 shares); insiders now own 1.70% of the company.
• Dividend and analyst backdrop: Iron Mountain paid a $0.864 quarterly dividend (annualized $3.46) for a 3.0% yield but a very high payout ratio of 720.83%, while the stock carries a consensus "Hold" rating and a $122 average price target.

Border to Coast Pensions Partnership Ltd lifted its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,000 shares of the financial services provider's stock after buying an additional 20,000 shares during the period. Border to Coast Pensions Partnership Ltd owned approximately 0.17% of Iron Mountain worth $41,551,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Intact Investment Management Inc. purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $3,588,000. NewSquare Capital LLC grew its position in shares of Iron Mountain by 4,867.6% in the 3rd quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider's stock valued at $1,205,000 after buying an additional 11,585 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in 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 during the last quarter. AGF Management Ltd. grew its position in 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 during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Iron Mountain by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 125,142 shares of the financial services provider's stock worth $12,863,000 after purchasing an additional 40,341 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total value of $616,260.00. Following the completion of the sale, the executive vice president owned 125,507 shares in the company, valued at approximately $12,890,823.97. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer Allerton sold 7,000 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was 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 of the company's stock, valued at $1,256,584.08. This trade represents a 37.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 451,648 shares of company stock worth $48,297,449 over the last quarter. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

IRM has been the topic of several research reports. Loop Capital set a $130.00 price objective on shares of Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Barclays raised their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a research report on Monday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $122.00.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $113.58 on Thursday. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $115.24. The company has a market capitalization of $33.79 billion, a P/E ratio of 236.63 and a beta of 1.13. The company's fifty day moving average is $105.54 and its two-hundred day moving average is $97.18.

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 paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, March 16th. Iron Mountain's dividend payout ratio (DPR) is 720.83%.

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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