Iron Mountain (NYSE:IRM) Reaches New 12-Month High - Here's What Happened

Key Points

• Iron Mountain reached a new 52-week high of $115.40 in mid-day trading and was last quoted around $115.20, with a market cap near $34.4 billion.
• Analysts are mixed: the consensus rating is an average Hold with a $122 average price target, though Barclays and Loop Capital raised targets while Zacks issued a "strong sell" downgrade.
• The firm pays a quarterly dividend of $0.864 (annualized $3.46, ~3.0% yield) but shows a very high payout ratio of 720.83%, and insiders have sold roughly $48.3 million of stock in the past three months.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $115.40 and last traded at $115.2040, with a volume of 52811 shares. The stock had previously closed at $113.55.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research analyst reports. Barclays raised their price objective on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Loop Capital set a $130.00 price objective on shares of Iron Mountain in a research note on Wednesday, March 4th. Finally, Zacks Research downgraded shares of Iron Mountain from a "hold" rating to a "strong sell" rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Iron Mountain currently has an average rating of "Hold" and an average price target of $122.00.

Iron Mountain Price Performance

The stock's 50 day simple moving average is $105.54 and its two-hundred day simple moving average is $97.18. The stock has a market cap of $34.42 billion, a price-to-earnings ratio of 241.11 and a beta of 1.13.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Monday, March 16th were paid 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 yield of 3.0%. Iron Mountain's payout ratio is currently 720.83%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Jennifer Allerton sold 7,000 shares of Iron Mountain stock in a transaction 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 sale, the director owned 11,541 shares in the company, valued at $1,256,584.08. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total transaction of $616,260.00. Following the sale, the executive vice president owned 125,507 shares in the company, valued at $12,890,823.97. This represents a 4.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 451,648 shares of company stock worth $48,297,449 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Iron Mountain by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after acquiring an additional 1,286 shares during the period. Empowered Funds LLC lifted its holdings in shares of Iron Mountain by 10.3% during the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 537 shares during the period. Woodline Partners LP lifted its holdings in shares of Iron Mountain by 41.0% during the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock valued at $2,129,000 after acquiring an additional 7,193 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Iron Mountain by 29.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock valued at $136,000 after acquiring an additional 300 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Iron Mountain by 3.6% during the second quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock valued at $3,620,000 after acquiring an additional 1,222 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

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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