Mirae Asset Global Investments Co. Ltd. Raises Stake in Iron Mountain Incorporated $IRM

Key Points

• Mirae Asset Global Investments raised its stake in Iron Mountain by 21.9%, adding 11,129 shares in Q4 to own 61,911 shares valued at about $5.14 million, according to its latest Form 13F filing.
• Iron Mountain paid a quarterly dividend of $0.864 (annualized $3.46) for a yield of 2.9%, but the company’s dividend payout ratio is an unusually high 720.83%.
• Insiders sold 451,648 shares (~$48.3M) in the past three months while institutional investors hold 80.13% of the stock; analysts’ consensus is a Moderate Buy with a $124.60 target and shares trade near $118 (52‑week range $77.77–$121.00).

Mirae Asset Global Investments Co. Ltd. raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,911 shares of the financial services provider's stock after acquiring an additional 11,129 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Iron Mountain were worth $5,136,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IRM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 worth $322,292,000 after acquiring an additional 2,708,560 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Iron Mountain in the third quarter worth approximately $109,941,000. Invesco Ltd. lifted its stake 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 worth $516,481,000 after acquiring an additional 776,933 shares during the last quarter. Centersquare Investment Management LLC lifted its stake 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 worth $256,324,000 after acquiring an additional 483,548 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in 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 purchasing an additional 351,463 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 2.1%

Shares of Iron Mountain stock opened at $117.97 on Wednesday. The firm has a market capitalization of $35.09 billion, a P/E ratio of 245.76 and a beta of 1.13. The firm's 50 day moving average is $107.39 and its two-hundred day moving average is $97.59. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $121.00.

Iron Mountain Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.9%. Iron Mountain's dividend payout ratio (DPR) is 720.83%.

Analyst Ratings Changes

Several brokerages have commented on IRM. Barclays increased their price target 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Loop Capital set a $130.00 price target on shares of Iron Mountain in a research note on Wednesday, March 4th. Zacks Research lowered shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Finally, Wells Fargo & Company increased their price target on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday. Four 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.60.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the firm'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 transaction of $616,260.00. Following the transaction, the executive vice president directly owned 125,507 shares in the company, valued at approximately $12,890,823.97. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mithu Bhargava sold 59,725 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the transaction, the executive vice president owned 16,054 shares in the company, valued at approximately $1,679,569.48. This trade represents a 78.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 451,648 shares of company stock valued at $48,297,449. 1.70% of the stock is currently owned by insiders.

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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