Legal & General Group Plc Sells 67,821 Shares of Iron Mountain Incorporated $IRM

Key Points

• Legal & General Group Plc trimmed its stake in Iron Mountain by 2.1% in Q3, selling 67,821 shares and now holds 3,215,455 shares (about 1.09%) valued at roughly $327.8 million.
• Company insiders have been selling recently — EVP Mark Kidd sold 6,000 shares and Director Jennifer Allerton sold 7,000 shares on March 2, and insiders sold a total of 391,931 shares worth $41.18 million over the last 90 days; insiders now own 1.90% of the stock.
• Iron Mountain shares trade near $107.55 (52-week range $72.33–$115.24) with a $31.8B market cap; the company declared a quarterly dividend of $0.864 (annualized $3.46, ~3.2% yield) payable April 3, and Wall Street’s consensus is a "Moderate Buy" with an average target of $116.60.

Legal & General Group Plc trimmed its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,215,455 shares of the financial services provider's stock after selling 67,821 shares during the period. Legal & General Group Plc owned about 1.09% of Iron Mountain worth $327,783,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vestcor Inc lifted its stake in shares of Iron Mountain by 47.8% in the 3rd quarter. Vestcor Inc now owns 50,559 shares of the financial services provider's stock worth $5,154,000 after purchasing an additional 16,347 shares during the period. Fieldview Capital Management LLC purchased a new stake in Iron Mountain during the third quarter valued at approximately $3,092,000. Blair William & Co. IL raised its position in Iron Mountain by 1.4% in the third quarter. Blair William & Co. IL now owns 318,410 shares of the financial services provider's stock worth $32,459,000 after acquiring an additional 4,280 shares during the period. First Trust Advisors LP boosted its stake in shares of Iron Mountain by 159.7% during the 3rd quarter. First Trust Advisors LP now owns 149,839 shares of the financial services provider's stock worth $15,275,000 after acquiring an additional 92,136 shares during the last quarter. Finally, HUB Investment Partners LLC grew its position in shares of Iron Mountain by 1.7% during the 3rd quarter. HUB Investment Partners LLC now owns 11,765 shares of the financial services provider's stock valued at $1,199,000 after acquiring an additional 195 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total value of $643,620.00. Following the transaction, the executive vice president directly owned 131,507 shares of the company's stock, valued at approximately $14,106,755.89. The trade was a 4.36% 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 company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $108.88, for a total value 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. The trade was a 37.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 391,931 shares of company stock valued at $41,180,243 over the last 90 days. Company insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $107.55 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $115.24. The company has a market capitalization of $31.82 billion, a P/E ratio of 224.06 and a beta of 1.13. The company has a fifty day moving average of $98.29 and a 200 day moving average of $95.67.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.2%. Iron Mountain's dividend payout ratio is 718.75%.

Wall Street Analyst Weigh In

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

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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