Iron Mountain Incorporated $IRM Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its position in Iron Mountain by 1.3% in Q4, selling 625,617 shares and still holds 46,627,483 shares (about 15.77% of the company) valued at $3.87 billion.
• Company insiders have been net sellers — including EVP Mithu Bhargava's sale of 59,725 shares — with insiders disposing of 451,648 shares worth roughly $48.3 million over the past 90 days and now owning 1.70% of the stock.
• Iron Mountain pays a quarterly dividend of $0.864 (annualized $3.46) for a 3.1% yield720.83%, which could raise concerns about dividend sustainability.

Vanguard Group Inc. reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,627,483 shares of the financial services provider's stock after selling 625,617 shares during the period. Vanguard Group Inc. owned about 15.77% of Iron Mountain worth $3,867,750,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IRM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Iron Mountain by 597.9% in the third 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 valued at $322,292,000 after acquiring an additional 2,708,560 shares in the last quarter. Invesco Ltd. raised its holdings in Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock valued at $516,481,000 after acquiring an additional 776,933 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in Iron Mountain by 23.8% in the third quarter. Centersquare Investment Management LLC now owns 2,514,464 shares of the financial services provider's stock valued at $256,324,000 after acquiring an additional 483,548 shares in the last quarter. AQR Capital Management LLC increased its stake in Iron Mountain by 331.5% during the third quarter. AQR Capital Management LLC now owns 457,472 shares of the financial services provider's stock valued at $46,356,000 after purchasing an additional 351,463 shares during the last quarter. Finally, Bamco Inc. NY increased its stake in Iron Mountain by 306.3% during the third quarter. Bamco Inc. NY now owns 436,831 shares of the financial services provider's stock valued at $44,531,000 after purchasing an additional 329,307 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mithu Bhargava sold 59,725 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $104.62, for a total value of $6,248,429.50. Following the completion of the transaction, the executive vice president owned 16,054 shares in the company, valued at $1,679,569.48. This represents a 78.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jennifer Allerton sold 7,000 shares of the stock in a transaction dated 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 owned 11,541 shares of the company's stock, valued at $1,256,584.08. This represents a 37.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 451,648 shares of company stock worth $48,297,449 over the last ninety days. Insiders own 1.70% of the company's stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $112.84 on Tuesday. The company has a 50-day simple moving average of $108.13 and a 200-day simple moving average of $97.87. The firm has a market capitalization of $33.57 billion, a P/E ratio of 235.07 and a beta of 1.13. Iron Mountain Incorporated has a one year low of $77.77 and a one year high of $121.00.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Monday, March 16th were given a dividend of $0.864 per share. The ex-dividend date was Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. Iron Mountain's dividend payout ratio is currently 720.83%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IRM shares. Zacks Research lowered shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a research note on Tuesday, April 21st. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research note on Wednesday, March 4th. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Finally, Barclays boosted their target price on shares of Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $124.60.

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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