Iron Mountain (NYSE:IRM) Hits New 52-Week High – Here’s What Happened

Iron Mountain Incorporated (NYSE:IRM) shares hit a new 52-week high on Wednesday . The company traded as high as $111.63 and last traded at $108.5350, with a volume of 2501213 shares changing hands. The stock had previously closed at $109.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Barclays reaffirmed an “overweight” rating and issued a $126.00 price objective on shares of Iron Mountain in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Iron Mountain Price Performance

The company’s fifty day simple moving average is $90.59 and its 200-day simple moving average is $94.00. The firm has a market capitalization of $31.96 billion, a PE ratio of 225.04 and a beta of 1.16.

Iron Mountain Dividend Announcement

The firm 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 $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 dividend payout ratio (DPR) is 720.83%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 38,482 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total transaction of $498,600.00. Following the completion of the transaction, the executive vice president directly owned 55,081 shares of the company’s stock, valued at $4,577,231.10. The trade was a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 119,607 shares of company stock worth $9,970,025 in the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Trading of Iron Mountain

Several large investors have recently made changes to their positions in IRM. Garton & Associates Financial Advisors LLC acquired a new position in shares of Iron Mountain during the 4th quarter valued at about $25,000. Quent Capital LLC purchased a new position in Iron Mountain in the third quarter worth approximately $27,000. Johnson Financial Group Inc. purchased a new stake in Iron Mountain in the third quarter valued at $32,000. DV Equities LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth about $34,000. Finally, Triumph Capital Management lifted its stake in Iron Mountain by 1,056.8% during the fourth quarter. Triumph Capital Management now owns 428 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 391 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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.