Victory Capital Management Inc. Sells 9,020 Shares of Iron Mountain Incorporated $IRM

Victory Capital Management Inc. lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 222,934 shares of the financial services provider’s stock after selling 9,020 shares during the period. Victory Capital Management Inc. owned 0.08% of Iron Mountain worth $22,726,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Iron Mountain in the second quarter valued at about $419,457,000. Invesco Ltd. grew its holdings in Iron Mountain by 50.6% during the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after purchasing an additional 1,440,629 shares during the period. Vontobel Holding Ltd. bought a new stake in Iron Mountain in the third quarter valued at approximately $109,941,000. Prudential Financial Inc. increased its stake in Iron Mountain by 44.7% in the second quarter. Prudential Financial Inc. now owns 1,945,769 shares of the financial services provider’s stock valued at $199,578,000 after purchasing an additional 601,290 shares in the last quarter. Finally, Amundi raised its holdings in Iron Mountain by 45.5% in the second quarter. Amundi now owns 1,600,818 shares of the financial services provider’s stock worth $159,457,000 after purchasing an additional 500,884 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $107.27, for a total value of $643,620.00. Following the sale, the executive vice president owned 131,507 shares of the company’s stock, valued at $14,106,755.89. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jennifer Allerton sold 7,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total value of $762,160.00. Following the completion of the sale, the director owned 11,541 shares in the company, valued at approximately $1,256,584.08. This trade represents a 37.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 391,931 shares of company stock worth $41,180,243. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $107.04 on Tuesday. The firm has a market cap of $31.67 billion, a P/E ratio of 223.00 and a beta of 1.13. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $115.24. The firm’s 50 day moving average price is $97.32 and its two-hundred day moving average price is $95.49.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.2%. Iron Mountain’s dividend payout ratio is presently 720.83%.

Wall Street Analyst Weigh In

IRM has been the subject of several research analyst reports. Loop Capital set a $130.00 price target on shares of Iron Mountain in a report on Wednesday, March 4th. Barclays raised their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and a consensus price target of $116.60.

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.