Bamco Inc. NY Increases Stake in Iron Mountain Incorporated $IRM

Bamco Inc. NY lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 306.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 436,831 shares of the financial services provider’s stock after acquiring an additional 329,307 shares during the quarter. Bamco Inc. NY owned 0.15% of Iron Mountain worth $44,531,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Koshinski Asset Management Inc. raised its position in Iron Mountain by 2.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 98 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of 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 valued at $310,000 after buying an additional 103 shares during the period. Continuum Advisory LLC grew its stake in shares of Iron Mountain by 5.3% during the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock valued at $212,000 after buying an additional 104 shares during the last quarter. Natural Investments LLC raised 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 buying an additional 107 shares during the period. Finally, Merit Financial Group LLC raised its holdings in shares of Iron Mountain by 0.5% in the third quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock worth $2,032,000 after buying an additional 109 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Iron Mountain Trading Down 0.5%

Shares of NYSE IRM opened at $106.83 on Monday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24. The stock’s fifty day simple moving average is $99.25 and its two-hundred day simple moving average is $95.91. The stock has a market capitalization of $31.60 billion, a PE ratio of 222.55 and a beta of 1.13.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be issued a $0.864 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.2%. Iron Mountain’s payout ratio is currently 720.83%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $107.27, for a total value of $643,620.00. Following the sale, the executive vice president directly owned 131,507 shares in the company, valued at approximately $14,106,755.89. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 98,657 shares of Iron Mountain stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $106.25, for a total transaction of $10,482,306.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 391,931 shares of company stock valued at $41,180,243. 1.90% of the stock is currently owned by insiders.

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.