Hennion & Walsh Asset Management Inc. Purchases 5,258 Shares of Iron Mountain Incorporated $IRM

Hennion & Walsh Asset Management Inc. lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,304 shares of the financial services provider’s stock after buying an additional 5,258 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Iron Mountain were worth $7,112,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Elevation Wealth Partners LLC increased its position in shares of Iron Mountain by 444.2% during the second quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 231 shares in the last quarter. Dynamic Wealth Strategies LLC purchased a new position in Iron Mountain during the 1st quarter worth $31,000. Garton & Associates Financial Advisors LLC purchased a new position in Iron Mountain during the 4th quarter worth $25,000. Johnson Financial Group Inc. acquired a new position in Iron Mountain during the 3rd quarter valued at about $32,000. Finally, Beaird Harris Wealth Management LLC raised its stake in Iron Mountain by 17,500.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock valued at $29,000 after buying an additional 350 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IRM shares. Wells Fargo & Company boosted their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays boosted their target price on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Truist Financial set a $140.00 price target on shares of Iron Mountain in a report on Friday, May 1st. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.17.

Iron Mountain Stock Down 0.6%

Shares of NYSE:IRM opened at $121.26 on Friday. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 86.62 and a beta of 1.20. The business has a 50-day moving average price of $124.82 and a 200-day moving average price of $114.87.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.864 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a yield of 2.9%. Iron Mountain’s dividend payout ratio (DPR) is currently 246.43%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total transaction of $4,725,761.42. Following the completion of the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,725,761.42. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $125.50, for a total transaction of $902,219.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 92,786 shares of company stock worth $11,633,760 in the last ninety days. 1.70% of the stock is owned by company 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.