Russell Investments Group Ltd. Sells 117,229 Shares of Iron Mountain Incorporated $IRM

Key Points

• Russell Investments reduced its stake in Iron Mountain by 6.4% in Q3, selling 117,229 shares and leaving it with 1,706,435 shares worth about $173.9 million (≈0.58% ownership).
• Significant insider selling occurred recently: CEO William L. Meaney sold 137,133 shares (a 31.66% reduction) and insiders sold 293,274 shares over the last three months, totaling roughly $30.7 million.
• Dividend announced: Iron Mountain declared a quarterly dividend of $0.864 ($3.46 annualized) with an ex-dividend date of March 16 and a yield of about 3.3% (payable April 3).

Russell Investments Group Ltd. reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,706,435 shares of the financial services provider's stock after selling 117,229 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.58% of Iron Mountain worth $173,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of IRM. Quent Capital LLC bought a new position in Iron Mountain in the 3rd quarter worth $27,000. Washington Trust Advisors Inc. purchased a new stake in Iron Mountain in the 3rd quarter worth $54,000. Caitlin John LLC bought a new stake in Iron Mountain during the third quarter valued at about $61,000. First Horizon Corp purchased a new position in shares of Iron Mountain in the third quarter valued at about $68,000. Finally, City Holding Co. purchased a new position in shares of Iron Mountain in the third quarter valued at about $68,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the transaction, the executive vice president directly owned 131,507 shares of the company's stock, valued at approximately $14,106,755.89. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 137,133 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $109.39, for a total value of $15,000,978.87. Following the transaction, the chief executive officer owned 295,975 shares of the company's stock, valued at $32,376,705.25. This represents a 31.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 293,274 shares of company stock valued at $30,697,937. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IRM shares. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday. Barclays boosted their price target on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Finally, Weiss Ratings restated 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 company's stock. According to data from MarketBeat, Iron Mountain currently has an average rating of "Moderate Buy" and an average target price of $116.60.

Iron Mountain Stock Down 2.0%

Shares of IRM stock opened at $105.17 on Monday. The company's fifty day simple moving average is $96.83 and its two-hundred day simple moving average is $95.37. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $115.24. The stock has a market cap of $31.11 billion, a P/E ratio of 219.10 and a beta of 1.13.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be given a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, March 16th. Iron Mountain's payout ratio is currently 718.75%.

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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