Iron Mountain Incorporated $IRM Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank trimmed its Iron Mountain stake by 4.4% in Q3, selling 38,700 shares and now holds 850,561 shares (about 0.29% of the company) worth roughly $86.7 million.
• Quarterly dividend announced of $0.864 (annualized $3.46) yielding 3.2%, payable April 3 with record/ex-dividend date March 16, while the company’s reported payout ratio is an unusually high 720.83%.
• Insiders have been selling recently—391,931 shares were sold over the last 90 days (about $41.18 million), including sales by EVP Mark Kidd and Director Jennifer Allerton on March 2.

Swiss National Bank cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 850,561 shares of the financial services provider's stock after selling 38,700 shares during the quarter. Swiss National Bank owned 0.29% of Iron Mountain worth $86,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quent Capital LLC purchased a new stake in Iron Mountain during the third quarter worth about $27,000. Washington Trust Advisors Inc. acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $54,000. Caitlin John LLC purchased a new stake in Iron Mountain during the 3rd quarter worth approximately $61,000. First Horizon Corp acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $68,000. Finally, City Holding Co. purchased a new position in Iron Mountain in the 3rd quarter valued at approximately $68,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 0.5%

Shares of Iron Mountain stock opened at $107.72 on Wednesday. The company has a fifty day simple moving average of $97.80 and a 200-day simple moving average of $95.59. The stock has a market cap of $31.87 billion, a price-to-earnings ratio of 224.41 and a beta of 1.13. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24.

Iron Mountain Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.2%. Iron Mountain's payout ratio is currently 720.83%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IRM shares. Barclays upped their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Loop Capital set a $130.00 price objective on Iron Mountain in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Iron Mountain currently has an average rating of "Moderate Buy" and an average target price of $116.60.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the sale, the executive vice president directly owned 131,507 shares of the company's stock, valued at $14,106,755.89. This trade 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 available through this link. Also, Director Jennifer Allerton sold 7,000 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $108.88, for a total transaction of $762,160.00. Following the completion of the transaction, the director directly owned 11,541 shares in the company, valued at $1,256,584.08. This represents a 37.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 391,931 shares of company stock worth $41,180,243. Insiders own 1.90% of the company's stock.

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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