Iron Mountain Incorporated $IRM Holdings Lifted by Lee Danner & Bass Inc.

Key Points

• Lee Danner & Bass Inc. boosted its stake in Iron Mountain by 53.1% to 65,208 shares (worth $5.41M), and other large managers including Vanguard, State Street, Invesco and UBS also increased positions, leaving institutional investors owning 80.13% of the stock.
• Company insiders have been net sellers, unloading 451,648 shares valued at about $48.3M in the past 90 days — notable sales include EVP Mithu Bhargava (59,725 shares) and Mark Kidd (6,000 shares) — and insiders now own 1.70% of the company.
• Analysts show a consensus "Moderate Buy" with a $124.60 price target, while Iron Mountain pays a $0.864 quarterly dividend (3.0% yield) but reports an unusually high dividend payout ratio of 720.83%, reflecting valuation/earnings considerations (P/E ~241.96).

Lee Danner & Bass Inc. grew its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 53.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,208 shares of the financial services provider's stock after purchasing an additional 22,625 shares during the period. Lee Danner & Bass Inc.'s holdings in Iron Mountain were worth $5,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Iron Mountain by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider's stock worth $4,816,981,000 after acquiring an additional 188,213 shares during the period. State Street Corp lifted its stake in shares of Iron Mountain by 1.9% in the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock worth $1,759,494,000 after acquiring an additional 322,144 shares during the period. Invesco Ltd. lifted its stake in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock worth $516,481,000 after acquiring an additional 776,933 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Iron Mountain by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,348,039 shares of the financial services provider's stock worth $443,222,000 after acquiring an additional 55,273 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Iron Mountain by 597.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider's stock worth $322,292,000 after acquiring an additional 2,708,560 shares during the period. Institutional investors own 80.13% of the company's stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total transaction of $616,260.00. Following the completion of the sale, the executive vice president directly owned 125,507 shares of the company's stock, valued at $12,890,823.97. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mithu Bhargava sold 59,725 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly 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 451,648 shares of company stock valued at $48,297,449 in the last ninety days. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IRM shares. Loop Capital set a $130.00 price target on shares of Iron Mountain in a research note on Wednesday, March 4th. Zacks Research lowered shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Barclays upped their price target 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. Wells Fargo & Company upped their price target on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.60.

Iron Mountain Price Performance

IRM stock opened at $116.14 on Friday. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $121.00. The firm has a market cap of $34.55 billion, a PE ratio of 241.96 and a beta of 1.13. The firm has a 50 day simple moving average of $108.07 and a 200 day simple moving average of $97.87.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Monday, March 16th were paid a dividend of $0.864 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.46 annualized dividend and a yield of 3.0%. Iron Mountain's dividend payout ratio is currently 720.83%.

Iron Mountain Company 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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