Denali Advisors LLC Decreases Stake in Iron Mountain Incorporated $IRM

Denali Advisors LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 35.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,252 shares of the financial services provider’s stock after selling 5,164 shares during the period. Denali Advisors LLC’s holdings in Iron Mountain were worth $943,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IRM. Quent Capital LLC bought a new position in Iron Mountain in the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Iron Mountain by 111.7% during the second quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 343 shares in the last quarter. City Holding Co. purchased a new stake in shares of Iron Mountain during the third quarter worth $68,000. First Horizon Corp purchased a new position in shares of Iron Mountain in the third quarter valued at $68,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Iron Mountain during the 2nd quarter valued at $79,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

IRM stock opened at $109.72 on Tuesday. The firm has a market cap of $32.46 billion, a P/E ratio of 228.59 and a beta of 1.16. The firm’s fifty day moving average is $89.30 and its 200 day moving average is $93.72. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $110.91.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 720.83%.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the transaction, the executive vice president owned 55,081 shares in the company, valued at $4,577,231.10. The trade was a 9.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 38,482 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total transaction of $3,200,547.94. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 119,607 shares of company stock worth $9,970,025. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on IRM shares. Barclays restated an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.00.

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.