Iron Mountain Incorporated (NYSE:IRM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $116.60.

A number of equities analysts recently commented on IRM shares. Loop Capital set a $130.00 price objective on Iron Mountain in a report on Wednesday, March 4th. 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 note on Monday, February 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd.

Insider Transactions at Iron Mountain

In other Iron Mountain news, 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jennifer Allerton sold 7,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total transaction of $762,160.00. Following the completion of the sale, the director owned 11,541 shares of the company’s stock, valued at approximately $1,256,584.08. The trade was a 37.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 391,931 shares of company stock worth $41,180,243. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Iron Mountain

A number of hedge funds have recently modified their holdings of the company. Intact Investment Management Inc. acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at about $3,588,000. Sei Investments Co. raised its position in Iron Mountain by 4.2% in the second quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after purchasing an additional 35,301 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Iron Mountain by 11.9% in the second 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Iron Mountain by 17.2% during 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 purchasing an additional 15,225 shares during the period. Finally, AGF Management Ltd. boosted its holdings in Iron Mountain by 178.0% during the third quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock valued at $2,262,000 after purchasing an additional 14,205 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $106.83 on Friday. The company has a market capitalization of $31.60 billion, a PE ratio of 222.55 and a beta of 1.13. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $115.24. The business has a 50-day moving average of $99.25 and a 200-day moving average of $95.86.

Iron Mountain Dividend Announcement

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