Aberdeen Group plc Raises Stock Holdings in Iron Mountain Incorporated $IRM

Aberdeen Group plc lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 12.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 382,634 shares of the financial services provider’s stock after purchasing an additional 42,971 shares during the period. Aberdeen Group plc owned about 0.13% of Iron Mountain worth $38,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Intact Investment Management Inc. purchased a new stake in Iron Mountain during the third quarter valued at about $3,588,000. Sei Investments Co. raised its holdings in shares of Iron Mountain by 4.2% during the second quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock valued at $90,783,000 after acquiring an additional 35,301 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Iron Mountain by 11.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock worth $6,707,000 after purchasing an additional 6,937 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Iron Mountain by 17.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock worth $10,598,000 after buying an additional 15,225 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Iron Mountain by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 125,142 shares of the financial services provider’s stock valued at $12,863,000 after purchasing an additional 40,341 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total transaction of $498,600.00. Following the sale, the executive vice president owned 55,081 shares of the company’s stock, valued at approximately $4,577,231.10. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 38,482 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The SEC filing for this sale provides additional information. Insiders sold a total of 119,607 shares of company stock valued at $9,970,025 in the last three months. Insiders own 1.90% of the company’s stock.

Iron Mountain Stock Up 3.5%

IRM stock opened at $109.72 on Tuesday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $110.91. The business’s fifty day simple moving average is $89.30 and its two-hundred day simple moving average is $93.72. The firm has a market cap of $32.46 billion, a price-to-earnings ratio of 228.59 and a beta of 1.16.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be given a dividend of $0.864 per share. 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 3.1%. Iron Mountain’s dividend payout ratio is presently 720.83%.

Analyst Ratings Changes

A number of research analysts recently weighed in on IRM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Barclays reaffirmed an “overweight” rating and set a $126.00 price target on shares of Iron Mountain in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. raised their target price on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.