Raiffeisen Bank International AG Increases Stock Position in Iron Mountain Incorporated $IRM

Raiffeisen Bank International AG boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,667 shares of the financial services provider’s stock after purchasing an additional 8,327 shares during the quarter. Raiffeisen Bank International AG’s holdings in Iron Mountain were worth $5,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Iron Mountain during the second quarter worth about $419,457,000. Invesco Ltd. lifted its position in Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after acquiring an additional 1,440,629 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $109,941,000. Prudential Financial Inc. increased its holdings in shares of Iron Mountain by 44.7% in the second quarter. Prudential Financial Inc. now owns 1,945,769 shares of the financial services provider’s stock valued at $199,578,000 after purchasing an additional 601,290 shares during the period. Finally, Amundi increased its holdings in shares of Iron Mountain by 45.5% in the second quarter. Amundi now owns 1,600,818 shares of the financial services provider’s stock valued at $159,457,000 after purchasing an additional 500,884 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated 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 transaction, the executive vice president directly owned 55,081 shares in the company, valued at $4,577,231.10. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 119,607 shares of company stock worth $9,970,025. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IRM has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Barclays restated an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Iron Mountain Trading Up 1.9%

NYSE:IRM opened at $110.24 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $111.63. The company has a market capitalization of $32.61 billion, a P/E ratio of 229.66 and a beta of 1.16. The firm has a 50-day moving average price of $91.13 and a two-hundred day moving average price of $94.10.

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 dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, March 16th. Iron Mountain’s dividend payout ratio is presently 720.83%.

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.