Intech Investment Management LLC Sells 120,960 Shares of Iron Mountain Incorporated $IRM

Key Points

• Intech Investment Management cut its stake in Iron Mountain by 89.3%, selling 120,960 shares in Q3 and leaving 14,437 shares valued at about $1.47M, while institutional investors own roughly 80.13% of the stock.
• Company insiders have been net sellers, disposing of 293,274 shares in the past 90 days — including CEO William L. Meaney’s sale of 137,133 shares and EVP Mark Kidd’s sale of 6,000 shares — totaling about $30.7M.
• Iron Mountain announced a quarterly dividend of $0.864 (annualized $3.46) for a 3.3% yield720.83%.

Intech Investment Management LLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 89.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,437 shares of the financial services provider's stock after selling 120,960 shares during the period. Intech Investment Management LLC's holdings in Iron Mountain were worth $1,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Koshinski Asset Management Inc. lifted its stake in shares of Iron Mountain by 2.0% in 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 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider's stock valued at $310,000 after purchasing an additional 103 shares during the period. Continuum Advisory LLC raised its holdings in Iron Mountain by 5.3% during the 3rd quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider's stock worth $212,000 after purchasing an additional 104 shares during the last quarter. Natural Investments LLC lifted its position in shares of Iron Mountain by 3.1% in the 3rd quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider's stock worth $365,000 after purchasing an additional 107 shares during the period. Finally, Merit Financial Group LLC boosted its stake in shares of Iron Mountain by 0.5% in the 3rd quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider's stock valued at $2,032,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Down 2.0%

NYSE:IRM opened at $105.17 on Friday. The company has a fifty day moving average of $96.83 and a 200-day moving average of $95.32. The firm has a market capitalization of $31.11 billion, a P/E ratio of 219.10 and a beta of 1.13. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $115.24.

Iron Mountain Announces Dividend

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 paid a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain's payout ratio is 720.83%.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $107.27, for a total transaction of $643,620.00. Following the transaction, the executive vice president owned 131,507 shares in the company, valued at approximately $14,106,755.89. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 137,133 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $109.39, for a total value of $15,000,978.87. Following the completion of the sale, the chief executive officer directly owned 295,975 shares of the company's stock, valued at $32,376,705.25. The trade was a 31.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 293,274 shares of company stock worth $30,697,937. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

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

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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