Iron Mountain Incorporated (NYSE:IRM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $122.00.

A number of equities analysts recently commented on the stock. Barclays raised their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Loop Capital set a $130.00 price target on shares of Iron Mountain in a research report on Wednesday, March 4th.

Iron Mountain Stock Performance

NYSE:IRM opened at $104.75 on Wednesday. Iron Mountain has a 52 week low of $74.69 and a 52 week high of $115.24. The firm has a market cap of $31.16 billion, a price-to-earnings ratio of 218.22 and a beta of 1.13. The firm’s 50-day simple moving average is $103.15 and its 200 day simple moving average is $96.79.

Iron Mountain Announces Dividend

The company also recently disclosed 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. This represents a $3.46 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, March 16th. Iron Mountain’s dividend payout ratio is presently 720.83%.

Insider Activity

In other Iron Mountain news, Director Jennifer Allerton sold 7,000 shares of the stock in a transaction dated 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 directly owned 11,541 shares in the company, valued at $1,256,584.08. This represents a 37.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 38,474 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total transaction of $3,951,664.54. Following the sale, the chief executive officer owned 38,474 shares in the company, valued at $3,951,664.54. The trade was a 50.00% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 451,648 shares of company stock valued at $48,297,449. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

A number of large investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. grew its stake in Iron Mountain by 2.0% during the third quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider’s stock worth $521,000 after buying an additional 98 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in Iron Mountain by 3.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock worth $310,000 after buying an additional 103 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Iron Mountain by 5.3% in the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 104 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of Iron Mountain by 15.4% in the fourth quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 104 shares during the last quarter. Finally, Natural Investments LLC lifted its holdings in shares of Iron Mountain by 3.1% in the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 107 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.