Iron Mountain (NYSE:IRM) Sets New 12-Month High – Time to Buy?

Iron Mountain Incorporated (NYSE:IRM) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $112.88 and last traded at $112.30, with a volume of 140786 shares changing hands. The stock had previously closed at $111.19.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IRM. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Barclays boosted their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.25.

Iron Mountain Stock Down 0.2%

The stock has a market capitalization of $32.99 billion, a P/E ratio of 232.72 and a beta of 1.16. The company has a fifty day simple moving average of $93.00 and a two-hundred day simple moving average of $94.55.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be issued a $0.864 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. Iron Mountain’s dividend payout ratio (DPR) is presently 720.83%.

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the sale, the executive vice president owned 55,081 shares in the company, valued at $4,577,231.10. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 38,482 shares of Iron Mountain stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total value of $3,200,547.94. 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 quarter. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Iron Mountain

A number of hedge funds have recently modified their holdings of IRM. Vanguard Group Inc. raised its holdings in Iron Mountain by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider’s stock valued at $4,816,981,000 after acquiring an additional 188,213 shares during the period. Cohen & Steers Inc. grew its position in shares of Iron Mountain by 20.0% in the fourth 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 during the last quarter. State Street Corp increased its stake in shares of Iron Mountain by 1.9% during the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after purchasing an additional 322,144 shares during the period. Geode Capital Management LLC lifted its holdings in Iron Mountain by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock worth $685,374,000 after purchasing an additional 102,073 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after purchasing an additional 776,933 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.