Iron Mountain (NYSE:IRM) Director Jennifer Allerton Sells 7,000 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) Director Jennifer Allerton sold 7,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 11,541 shares in the company, valued at $1,256,584.08. This represents a 37.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Iron Mountain Stock Performance

IRM opened at $107.56 on Wednesday. The company has a fifty day moving average price of $95.29 and a two-hundred day moving average price of $95.05. The firm has a market capitalization of $31.82 billion, a PE ratio of 224.08 and a beta of 1.13. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $115.24.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be issued a $0.864 dividend. 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 currently 720.83%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Iron Mountain

Several institutional investors have recently modified their holdings of IRM. Intact Investment Management Inc. acquired a new position in shares of Iron Mountain during the third quarter worth about $3,588,000. Sei Investments Co. lifted its stake in Iron Mountain by 4.2% in the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock valued at $90,783,000 after acquiring an additional 35,301 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Iron Mountain by 11.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock valued at $6,707,000 after acquiring an additional 6,937 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Iron Mountain by 17.2% during 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 acquiring an additional 15,225 shares during the last quarter. Finally, AGF Management Ltd. grew its stake in shares of Iron Mountain by 178.0% during the 3rd quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock worth $2,262,000 after acquiring an additional 14,205 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

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.