Duff & Phelps Investment Management Co. Has $131.10 Million Holdings in Iron Mountain Incorporated $IRM

Key Points

• Duff & Phelps Investment Management Co. cut its stake in Iron Mountain by 3.8% in Q4, selling 61,622 shares and now holds 1,580,452 shares worth $131.10 million, making IRM its 15th-largest position.
• Company insiders have been net sellers recently: EVP Mithu Bhargava sold 59,725 shares (~$6.25M) and Mark Kidd sold 6,000 shares, with insiders offloading 451,648 shares (~$48.3M) in the last 90 days; insiders now own 1.70% of IRM.
• Iron Mountain paid a quarterly dividend of $0.864 (annualized $3.46, ~2.9% yield) but shows an elevated payout ratio of 720.83%; analysts’ consensus is a "Hold" with an average target of $122, while ratings range from Buy to Sell.

Duff & Phelps Investment Management Co. cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,580,452 shares of the financial services provider's stock after selling 61,622 shares during the quarter. Iron Mountain accounts for 1.5% of Duff & Phelps Investment Management Co.'s holdings, making the stock its 15th largest position. Duff & Phelps Investment Management Co. owned 0.53% of Iron Mountain worth $131,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRM. Quent Capital LLC bought a new position in Iron Mountain during the 3rd quarter worth $27,000. Johnson Financial Group Inc. acquired a new stake in shares of Iron Mountain during the 3rd quarter worth $32,000. Wealth Watch Advisors INC acquired a new stake in shares of Iron Mountain during the 3rd quarter worth $44,000. Washington Trust Advisors Inc. bought a new position in shares of Iron Mountain in the third quarter worth $54,000. Finally, JPL Wealth Management LLC acquired a new position in Iron Mountain in the third quarter valued at about $56,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other news, EVP Mithu Bhargava sold 59,725 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 16,054 shares in the company, valued at approximately $1,679,569.48. This represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the 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 transaction, the executive vice president owned 125,507 shares of the company's stock, valued at $12,890,823.97. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 451,648 shares of company stock worth $48,297,449. Corporate insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IRM shares. Barclays increased their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Zacks Research cut shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of "Hold" and an average target price of $122.00.

Iron Mountain Stock Up 3.6%

Iron Mountain stock opened at $117.59 on Friday. The stock has a market cap of $34.98 billion, a PE ratio of 244.98 and a beta of 1.13. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $118.02. The business's 50-day moving average price is $106.11 and its two-hundred day moving average price is $97.32.

Iron Mountain Dividend Announcement

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