Fieldview Capital Management LLC Invests $3.09 Million in Iron Mountain Incorporated $IRM

Fieldview Capital Management LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,331 shares of the financial services provider’s stock, valued at approximately $3,092,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Iron Mountain by 4.5% in the 1st 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 purchasing an additional 1,286 shares during the period. Empowered Funds LLC increased its holdings in shares of Iron Mountain by 10.3% during the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 537 shares during the period. Woodline Partners LP raised its position in shares of Iron Mountain by 41.0% during 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 during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Iron Mountain by 11.3% in the second quarter. Atlantic Union Bankshares Corp now owns 8,921 shares of the financial services provider’s stock valued at $915,000 after buying an additional 909 shares during the period. Finally, Modera Wealth Management LLC bought a new stake in shares of Iron Mountain in the second quarter valued at about $200,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $105.17 on Monday. The firm has a market cap of $31.11 billion, a P/E ratio of 219.10 and a beta of 1.13. The firm’s 50-day simple moving average is $96.83 and its 200-day simple moving average is $95.37. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $115.24.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, March 16th. Iron Mountain’s dividend payout ratio is currently 718.75%.

Insider Activity

In other news, CEO William L. Meaney sold 98,659 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $107.36, for a total value of $10,592,030.24. Following the completion of the transaction, the chief executive officer directly owned 98,657 shares of the company’s stock, valued at approximately $10,591,815.52. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total value of $643,620.00. Following the transaction, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 293,274 shares of company stock worth $30,697,937. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Loop Capital set a $130.00 price target on Iron Mountain in a research note on Wednesday. Barclays raised their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Four research 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.60.

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.