Flagship Harbor Advisors LLC Cuts Holdings in Iron Mountain Incorporated $IRM

Flagship Harbor Advisors LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 82.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,393 shares of the financial services provider’s stock after selling 6,552 shares during the period. Flagship Harbor Advisors LLC’s holdings in Iron Mountain were worth $116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Iron Mountain by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider’s stock valued at $2,573,000 after buying an additional 1,286 shares in the last quarter. Empowered Funds LLC increased its holdings in Iron Mountain by 10.3% in the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock valued at $493,000 after buying an additional 537 shares in the last quarter. Woodline Partners LP increased its holdings in Iron Mountain by 41.0% in the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock valued at $2,129,000 after buying an additional 7,193 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Iron Mountain by 29.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider’s stock valued at $136,000 after buying an additional 300 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Iron Mountain by 3.6% in the second quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider’s stock valued at $3,620,000 after purchasing an additional 1,222 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total transaction of $616,260.00. Following the completion of the sale, the executive vice president owned 125,507 shares of the company’s stock, valued at approximately $12,890,823.97. This represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total transaction of $3,951,664.54. Following the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $3,951,664.54. This represents a 50.00% decrease in their position. 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. Insiders sold a total of 451,648 shares of company stock worth $48,297,449 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research analyst reports. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Barclays lifted their target price on shares of Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.00.

Iron Mountain Stock Up 0.1%

Shares of NYSE IRM opened at $109.44 on Monday. The firm has a market cap of $32.56 billion, a price-to-earnings ratio of 228.00 and a beta of 1.13. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $115.24. The company’s 50-day simple moving average is $104.11 and its 200-day simple moving average is $96.90.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Monday, March 16th were paid a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, March 16th. Iron Mountain’s dividend payout ratio is currently 720.83%.

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.