Iron Mountain Incorporated $IRM Shares Bought by Hourglass Capital LLC

Hourglass Capital LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 136.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,060 shares of the financial services provider’s stock after buying an additional 46,200 shares during the quarter. Hourglass Capital LLC’s holdings in Iron Mountain were worth $6,641,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Iron Mountain by 0.4% during 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 buying an additional 188,213 shares in the last quarter. State Street Corp increased its holdings in Iron Mountain by 1.9% in the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after acquiring an additional 322,144 shares in the last quarter. Invesco Ltd. raised its position in Iron Mountain by 18.1% during the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock worth $516,481,000 after acquiring an additional 776,933 shares during the period. Dimensional Fund Advisors LP raised its position in Iron Mountain by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 4,348,039 shares of the financial services provider’s stock worth $443,222,000 after acquiring an additional 55,273 shares during the period. Finally, Norges Bank purchased a new position in Iron Mountain during the second quarter valued at $419,457,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IRM. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Barclays lifted their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $116.60.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $98.37 on Friday. The stock’s 50 day simple moving average is $101.93 and its 200-day simple moving average is $96.64. The stock has a market cap of $29.26 billion, a P/E ratio of 204.94 and a beta of 1.13. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be issued a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, March 16th. Iron Mountain’s dividend payout ratio is presently 720.83%.

Insider Buying and Selling

In related news, Director Jennifer Allerton sold 7,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $108.88, for a total value of $762,160.00. Following the completion of the sale, the director owned 11,541 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 59,725 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the sale, the executive vice president owned 16,054 shares of the company’s stock, valued at approximately $1,679,569.48. The trade was a 78.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 451,656 shares of company stock valued at $47,428,673 over the last 90 days. Insiders own 1.90% of the company’s stock.

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.