Iron Mountain (NYSE:IRM) Reaches New 52-Week High - Should You Buy?

Key Points

• Reached a 52-week high: Iron Mountain shares traded as high as $121.00 and last traded at $117.97 on heavy volume, with a market cap of about $35.09 billion and a P/E of 245.76.
• Analyst sentiment is positive overall: The consensus rating is a Moderate Buy with an average price target of $124.60 after recent upgrades from Barclays, Wells Fargo and Loop Capital (though Zacks issued a downgrade).
• Dividend and ownership dynamics: The company pays a quarterly dividend of $0.864 (annualized $3.46, yield 2.9%) but reports an unusually high payout ratio of 720.83%; insiders have recently sold significant shares (~451,648 shares, ~$48.3M) while institutional investors own about 80.13% of the stock.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $121.00 and last traded at $117.9670, with a volume of 1526779 shares. The stock had previously closed at $120.53.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IRM shares. Barclays raised their price objective on Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Loop Capital set a $130.00 price objective on Iron Mountain in a research note on Wednesday, March 4th. Zacks Research downgraded Iron Mountain from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Wells Fargo & Company raised their price objective on Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of "Moderate Buy" and an average price target of $124.60.

Iron Mountain Stock Performance

The company has a 50-day simple moving average of $107.39 and a 200 day simple moving average of $97.59. The company has a market capitalization of $35.09 billion, a P/E ratio of 245.76 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 given a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, March 16th. Iron Mountain's payout ratio is currently 720.83%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 59,725 shares of Iron Mountain stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $104.62, for a total value of $6,248,429.50. Following the transaction, the executive vice president directly owned 16,054 shares of the company's stock, valued at $1,679,569.48. The trade was a 78.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer Allerton sold 7,000 shares of Iron Mountain 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 directly owned 11,541 shares in the company, valued at approximately $1,256,584.08. This represents a 37.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 451,648 shares of company stock valued at $48,297,449. Corporate insiders own 1.70% of the company's stock.

Institutional Trading of Iron Mountain

Several institutional investors have recently modified their holdings of IRM. Norges Bank acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $368,890,000. Cohen & Steers Inc. grew its holdings in shares of Iron Mountain by 20.0% during the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Iron Mountain by 597.9% in the 3rd 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 valued at $322,292,000 after buying an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Iron Mountain by 66.5% in the 4th quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider's stock valued at $349,021,000 after buying an additional 1,680,438 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Iron Mountain in the 3rd quarter valued at $109,941,000. Institutional investors and hedge funds own 80.13% of the company's stock.

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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