Aberdeen Group plc Sells 17,745 Shares of Iron Mountain Incorporated $IRM

Aberdeen Group plc reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,889 shares of the financial services provider’s stock after selling 17,745 shares during the quarter. Aberdeen Group plc owned 0.12% of Iron Mountain worth $30,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in shares of Iron Mountain during the third quarter worth about $27,000. Johnson Financial Group Inc. acquired a new stake in Iron Mountain in the 3rd quarter valued at approximately $32,000. Wealth Watch Advisors INC bought a new stake in Iron Mountain in the 3rd quarter valued at approximately $44,000. Global Wealth Strategies & Associates bought a new stake in Iron Mountain in the 4th quarter valued at approximately $50,000. Finally, Washington Trust Advisors Inc. acquired a new position in Iron Mountain during the 3rd quarter worth approximately $54,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 59,725 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the transaction, the executive vice president directly owned 16,054 shares of the company’s stock, valued at approximately $1,679,569.48. The trade was a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 137,133 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 295,975 shares in the company, valued at approximately $32,376,705.25. This trade represents a 31.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 451,648 shares of company stock worth $48,297,449. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Barclays lifted their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Loop Capital set a $130.00 price objective on shares of Iron Mountain in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.60.

Iron Mountain Stock Up 0.1%

Shares of Iron Mountain stock opened at $103.36 on Friday. The stock has a market cap of $30.75 billion, a P/E ratio of 215.34 and a beta of 1.13. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24. The business’s 50 day moving average is $102.68 and its 200-day moving average is $96.74.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Monday, March 16th were paid a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, March 16th. Iron Mountain’s dividend payout ratio (DPR) is 720.83%.

Iron Mountain 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.