Nippon Life Global Investors Americas Inc. Takes $14.17 Million Position in Iron Mountain Incorporated $IRM

Key Points

• Nippon Life Global Investors Americas acquired 111,470 Iron Mountain shares worth approximately $14.17 million, while institutional investors collectively own 80.13% of the company.
• Iron Mountain shares opened at $129.49, near their 52-week high of $134.68. Analysts maintain a “Moderate Buy” consensus with an average price target of $135.17.
• The company declared a quarterly dividend of $0.864 per share, equal to an annualized $3.46 payout and a 2.7% yield; insiders have sold approximately $16.8 million of stock over the past 90 days.

Nippon Life Global Investors Americas Inc. acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 111,470 shares of the financial services provider's stock, valued at approximately $14,168,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Elevation Wealth Partners LLC grew its stake in Iron Mountain by 444.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider's stock worth $36,000 after buying an additional 231 shares in the last quarter. Dynamic Wealth Strategies LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at $31,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Iron Mountain during the 4th quarter worth $25,000. Johnson Financial Group Inc. purchased a new position in Iron Mountain in the third quarter worth $32,000. Finally, Beaird Harris Wealth Management LLC grew its position in Iron Mountain by 17,500.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock worth $29,000 after acquiring an additional 350 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

IRM stock opened at $129.49 on Monday. The firm has a market cap of $38.55 billion, a P/E ratio of 92.49 and a beta of 1.20. The firm's fifty day moving average is $124.57 and its 200 day moving average is $116.11. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain's dividend payout ratio (DPR) is 247.14%.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the transaction, the executive vice president owned 101,507 shares in the company, valued at approximately $12,454,908.90. The trade was a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $125.50, for a total value of $902,219.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,368 shares of company stock worth $16,807,080 in the last ninety days. Corporate insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. Barclays raised their price target on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Wall Street Zen lowered Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Truist Financial set a $140.00 price objective on Iron Mountain in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $135.17.

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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