Pensionfund Sabic Buys Shares of 18,800 Iron Mountain Incorporated $IRM

Pensionfund Sabic bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,800 shares of the financial services provider’s stock, valued at approximately $1,559,000.

Several other institutional investors have also made changes to their positions in IRM. Focus Financial Network Inc. increased its stake in Iron Mountain by 1.6% in the 4th quarter. Focus Financial Network Inc. now owns 13,201 shares of the financial services provider’s stock valued at $1,106,000 after buying an additional 203 shares during the period. Pensionfund PDN acquired a new stake in shares of Iron Mountain during the 4th quarter valued at $3,194,000. Salem Investment Counselors Inc. boosted its stake in shares of Iron Mountain by 0.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 77,478 shares of the financial services provider’s stock valued at $6,437,000 after buying an additional 242 shares during the period. SG Americas Securities LLC purchased a new position in shares of Iron Mountain during the 4th quarter valued at $11,412,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Iron Mountain by 4.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 12,202 shares of the financial services provider’s stock worth $1,012,000 after acquiring an additional 478 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William L. Meaney sold 137,133 shares of Iron Mountain stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $109.39, for a total value of $15,000,978.87. Following the transaction, the chief executive officer owned 295,975 shares in the company, valued at $32,376,705.25. This trade represents a 31.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the transaction, the executive vice president owned 131,507 shares in the company, valued at $14,106,755.89. This trade represents a 4.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 451,656 shares of company stock valued at $47,428,673. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Stock Down 1.3%

Shares of Iron Mountain stock opened at $100.58 on Wednesday. The stock has a market capitalization of $29.75 billion, a P/E ratio of 209.54 and a beta of 1.13. The stock has a 50 day moving average price of $101.55 and a two-hundred day moving average price of $96.55. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $115.24.

Iron Mountain Dividend Announcement

The company 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 dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s dividend payout ratio is currently 720.83%.

Analysts Set New Price Targets

A number of analysts recently issued reports on IRM shares. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Barclays upped their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Loop Capital set a $130.00 price target on Iron Mountain in a report on Wednesday, March 4th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.60.

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.