Iron Mountain Incorporated $IRM Shares Sold by Verdence Capital Advisors LLC

Key Points

• Verdence Capital Advisors LLC cut its stake in Iron Mountain by 43.1% in Q4, selling 8,941 shares and leaving it with 11,791 shares worth about $978,000.
• Company insiders have been net sellers recently — including EVP Mithu Bhargava’s sale of 59,725 shares for ~$6.25M — with a total of 451,648 shares sold (~$48.3M) in the past 90 days; insiders now own 1.70% of the stock.
• Analysts show a mixed but generally positive view: MarketBeat’s consensus is a “Moderate Buy” with an average price target of $124.60 (Wells Fargo’s target raised to $135), while Iron Mountain pays a $0.864 quarterly dividend (3.1% yield) but reports a very high DPR of 720.83%, suggesting payout sustainability concerns.

Verdence Capital Advisors LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 43.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,791 shares of the financial services provider's stock after selling 8,941 shares during the quarter. Verdence Capital Advisors LLC's holdings in Iron Mountain were worth $978,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Koshinski Asset Management Inc. boosted its position in Iron Mountain by 2.0% during 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 last quarter. NorthCrest Asset Manangement LLC boosted its position in Iron Mountain by 3.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider's stock worth $310,000 after acquiring an additional 103 shares during the last quarter. Continuum Advisory LLC boosted its position in Iron Mountain by 5.3% during the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider's stock worth $212,000 after acquiring an additional 104 shares during the last quarter. Merit Financial Group LLC boosted its position in Iron Mountain by 0.5% during the third quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider's stock worth $2,032,000 after acquiring an additional 109 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in Iron Mountain by 1.6% during the third quarter. Coldstream Capital Management Inc. now owns 7,506 shares of the financial services provider's stock worth $765,000 after acquiring an additional 121 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on IRM shares. Zacks Research lowered shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a research report on Monday, April 13th. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a research note on Tuesday, April 21st. Barclays increased 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. Finally, Wells Fargo & Company increased 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, April 21st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $124.60.

Insider Activity

In related news, EVP Mithu Bhargava sold 59,725 shares of the firm'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 sale, the executive vice president directly owned 16,054 shares of the company's stock, valued at approximately $1,679,569.48. This trade represents a 78.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer Allerton sold 7,000 shares of the firm'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 sale, the director directly owned 11,541 shares of the company's stock, valued at approximately $1,256,584.08. The trade was a 37.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 451,648 shares of company stock valued at $48,297,449 in the last 90 days. Company insiders own 1.70% of the company's stock.

Iron Mountain Trading Down 2.8%

Shares of IRM stock opened at $112.84 on Tuesday. The company's fifty day simple moving average is $108.13 and its 200-day simple moving average is $97.87. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $121.00. The company has a market cap of $33.57 billion, a PE ratio of 235.07 and a beta of 1.13.

Iron Mountain Announces Dividend

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

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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