Iron Mountain Incorporated $IRM Stake Lifted by Cwm LLC

Key Points

• Cwm LLC boosted its stake in Iron Mountain by 84.1% in Q4, owning 21,611 shares after adding 9,872 shares, worth about $1.79 million at period end.
• Insiders have been net sellers: CEO William L. Meaney sold 38,474 shares and insiders sold a total of 451,648 shares (≈$48.3M) in the last quarter, leaving insiders with 1.70% ownership.
• Iron Mountain pays a quarterly dividend of $0.864 (annualized $3.46, ~3.0% yield) but shows a very high payout ratio (~720.8%); the stock has a market cap of ~$34.6B and a consensus rating of "Moderate Buy" with an average target of $124.60.

Cwm LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 84.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,611 shares of the financial services provider's stock after acquiring an additional 9,872 shares during the period. Cwm LLC's holdings in Iron Mountain were worth $1,793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IRM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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. boosted its holdings in shares of 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 boosted its holdings in shares of 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 boosted its holdings in shares of Iron Mountain by 331.5% in 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 acquiring an additional 351,463 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of Iron Mountain by 306.3% in the third quarter. Bamco Inc. NY now owns 436,831 shares of the financial services provider's stock valued at $44,531,000 after acquiring an additional 329,307 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $116.14 on Friday. The stock has a market capitalization of $34.55 billion, a price-to-earnings ratio of 241.96 and a beta of 1.13. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $121.00. The company has a 50 day moving average price of $108.07 and a 200 day moving average price of $97.87.

Iron Mountain Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IRM shares. Zacks Research cut shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Wells Fargo & Company raised their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday. Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a report on Tuesday. Barclays raised their target price on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Finally, Loop Capital set a $130.00 target price on shares of Iron Mountain in a report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of "Moderate Buy" and an average price target of $124.60.

Insider Activity

In related news, CEO William L. Meaney sold 38,474 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total value of $3,951,664.54. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at approximately $3,951,664.54. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer Allerton sold 7,000 shares of the company's stock in a transaction that occurred 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 sale, the director owned 11,541 shares of the company's stock, valued at approximately $1,256,584.08. This trade represents a 37.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,648 shares of company stock worth $48,297,449 in the last quarter. Insiders own 1.70% of the company's stock.

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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