Vestcor Inc Buys 16,347 Shares of Iron Mountain Incorporated $IRM

Vestcor Inc increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 47.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,559 shares of the financial services provider’s stock after purchasing an additional 16,347 shares during the quarter. Vestcor Inc’s holdings in Iron Mountain were worth $5,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. raised its holdings in Iron Mountain by 2.0% in the third 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 in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of Iron Mountain by 3.6% in the 3rd 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 in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Iron Mountain by 5.3% in the 3rd 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 in the last quarter. Natural Investments LLC grew its position in shares of Iron Mountain by 3.1% in the 3rd 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 last quarter. Finally, Merit Financial Group LLC raised its stake in shares of Iron Mountain by 0.5% during the 3rd quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock worth $2,032,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IRM shares. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Barclays lifted 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, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a 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. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.60.

Iron Mountain Stock Performance

Shares of IRM stock opened at $107.04 on Tuesday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $115.24. The firm has a market capitalization of $31.67 billion, a price-to-earnings ratio of 223.00 and a beta of 1.13. The stock’s 50-day simple moving average is $97.32 and its 200-day simple moving average is $95.49.

Iron Mountain Announces Dividend

The business also recently declared 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. 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 dividend payout ratio is presently 720.83%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 137,133 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 295,975 shares in the company, valued at $32,376,705.25. This trade represents a 31.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer Allerton sold 7,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total value of $762,160.00. Following the sale, the director owned 11,541 shares in the company, valued at approximately $1,256,584.08. The trade was a 37.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 391,931 shares of company stock worth $41,180,243. 1.90% of the stock is owned by corporate insiders.

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.