Pensionfund PDN Purchases Shares of 38,500 Iron Mountain Incorporated $IRM

Pensionfund PDN acquired a new position in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 38,500 shares of the financial services provider’s stock, valued at approximately $3,194,000. Iron Mountain makes up 2.1% of Pensionfund PDN’s holdings, making the stock its 12th largest holding.

Several other institutional investors have also modified their holdings of IRM. Intact Investment Management Inc. acquired a new stake in Iron Mountain in the 3rd quarter valued at about $3,588,000. Sei Investments Co. boosted its position in shares of Iron Mountain by 4.2% during the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock valued at $90,783,000 after purchasing an additional 35,301 shares in the last quarter. NewSquare Capital LLC grew its stake in shares of Iron Mountain by 4,867.6% in the 3rd quarter. NewSquare Capital LLC now owns 11,823 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 11,585 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Iron Mountain by 17.2% in the 3rd 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 last quarter. Finally, AGF Management Ltd. raised its holdings in shares of Iron Mountain by 178.0% in the 3rd quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock worth $2,262,000 after purchasing an additional 14,205 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 137,133 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $109.39, for a total transaction of $15,000,978.87. Following the transaction, the chief executive officer directly owned 295,975 shares of the company’s stock, valued at approximately $32,376,705.25. The trade was a 31.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the transaction, the executive vice president owned 131,507 shares in the company, valued at approximately $14,106,755.89. This represents a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 451,656 shares of company stock worth $47,428,673 over the last quarter. Company insiders own 1.90% of the company’s stock.

Iron Mountain Trading Up 2.5%

Shares of IRM stock opened at $102.10 on Tuesday. The company has a market capitalization of $30.20 billion, a price-to-earnings ratio of 212.71 and a beta of 1.13. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24. The stock’s fifty day simple moving average is $101.38 and its 200-day simple moving average is $96.49.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be paid a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s payout ratio is 718.75%.

Analysts Set New Price Targets

Several research firms recently commented on IRM. Barclays increased 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Finally, Loop Capital set a $130.00 price objective on Iron Mountain in a research report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $116.60.

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.