Hourglass Capital LLC Purchases 46,200 Shares of Iron Mountain Incorporated $IRM

Key Points

• Hourglass Capital raised its Iron Mountain stake by 136.4%, buying 46,200 shares to hold 80,060 shares valued at about $6.64 million per its latest SEC filing.
• Dividend announced: Iron Mountain declared a quarterly payout of $0.864 (annualized $3.46) for a 3.5% yield, though the company shows an unusually high payout ratio of 720.83%.
• Insider selling: Company insiders have sold heavily—including EVP Mark Kidd (6,000 shares) and EVP Mithu Bhargava (59,725 shares)—with insiders offloading 451,656 shares worth $47.43 million over the past 90 days.

Hourglass Capital LLC lifted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 136.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,060 shares of the financial services provider's stock after buying an additional 46,200 shares during the period. Hourglass Capital LLC's holdings in Iron Mountain were worth $6,641,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quent Capital LLC purchased a new stake in Iron Mountain during the third quarter valued at approximately $27,000. Johnson Financial Group Inc. purchased a new position in Iron Mountain in the third quarter worth $32,000. Wealth Watch Advisors INC purchased a new position in Iron Mountain in the third quarter worth $44,000. Washington Trust Advisors Inc. acquired a new position in shares of Iron Mountain during the third quarter worth $54,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at $56,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 1.8%

Shares of IRM stock opened at $98.37 on Friday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $115.24. The stock has a market cap of $29.26 billion, a PE ratio of 204.94 and a beta of 1.13. The business has a 50-day simple moving average of $101.93 and a 200-day simple moving average of $96.64.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be issued a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.5%. Iron Mountain's payout ratio is presently 720.83%.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $107.27, for a total transaction of $643,620.00. Following the sale, the executive vice president owned 131,507 shares of the company's stock, valued at $14,106,755.89. This trade represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 59,725 shares of the business'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 owned 16,054 shares of the company's stock, valued at approximately $1,679,569.48. This represents a 78.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 451,656 shares of company stock worth $47,428,673 over the last 90 days. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

IRM has been the topic of several research analyst reports. Loop Capital set a $130.00 target price on Iron Mountain in a research note on Wednesday, March 4th. Barclays increased their price target on Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.60.

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.

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