Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 7,821,452 shares, a drop of 14.6% from the January 29th total of 9,157,943 shares. Based on an average daily trading volume, of 2,598,138 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.7% of the shares of the company are short sold. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 2,598,138 shares, the days-to-cover ratio is currently 3.0 days.

Iron Mountain Stock Performance

NYSE IRM traded down $0.20 during trading hours on Wednesday, reaching $107.58. The company’s stock had a trading volume of 749,179 shares, compared to its average volume of 2,085,076. The company’s 50-day moving average is $95.29 and its two-hundred day moving average is $95.05. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $115.24. The stock has a market cap of $31.83 billion, a PE ratio of 224.13 and a beta of 1.13.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be paid a $0.864 dividend. 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 3.2%. Iron Mountain’s dividend payout ratio is presently 720.83%.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the business’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 approximately $14,106,755.89. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 137,133 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $109.39, for a total value of $15,000,978.87. Following the sale, the chief executive officer owned 295,975 shares of the company’s stock, valued at $32,376,705.25. This trade represents a 31.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 194,615 shares of company stock worth $20,105,907 in the last quarter. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors have recently made changes to their positions in IRM. Norges Bank acquired a new stake in shares of Iron Mountain during the fourth quarter valued at $368,890,000. Cohen & Steers Inc. lifted its holdings in Iron Mountain by 20.0% in the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after purchasing an additional 3,155,034 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Iron Mountain by 597.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock worth $322,292,000 after purchasing an additional 2,708,560 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Iron Mountain by 66.5% during the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock worth $349,021,000 after buying an additional 1,680,438 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Iron Mountain by 50.6% during the second quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after buying an additional 1,440,629 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRM has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Barclays increased their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.25.

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.