PensionDanmark Pensionsforsikringsaktieselskab Has $8.65 Million Position in Iron Mountain Incorporated $IRM

PensionDanmark Pensionsforsikringsaktieselskab increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 12.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,465 shares of the financial services provider’s stock after purchasing an additional 7,438 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Iron Mountain were worth $8,648,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IRM. Norges Bank bought a new stake in shares of Iron Mountain during the fourth quarter worth $368,890,000. Cohen & Steers Inc. lifted its stake in shares of Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after acquiring an additional 3,155,034 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after acquiring an additional 2,708,560 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Iron Mountain by 66.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock valued at $349,021,000 after acquiring an additional 1,680,438 shares during the last quarter. Finally, Invesco Ltd. increased its position in Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock worth $516,481,000 after purchasing an additional 776,933 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Ratings Changes

IRM has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Barclays boosted their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Truist Financial set a $140.00 price objective on shares of Iron Mountain in a report on Friday, May 1st. Finally, Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.17.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $126.70, for a total transaction of $760,200.00. Following the completion of the transaction, the executive vice president owned 113,507 shares in the company, valued at approximately $14,381,336.90. The trade was a 5.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pamela M. Arway sold 1,892 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total transaction of $244,011.24. Following the transaction, the director owned 40,196 shares of the company’s stock, valued at approximately $5,184,078.12. This represents a 4.50% decrease in their position. 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 over the last quarter. Insiders own 1.70% of the company’s stock.

Iron Mountain Trading Down 0.6%

NYSE IRM opened at $121.26 on Friday. The stock has a 50-day simple moving average of $124.82 and a 200 day simple moving average of $114.87. The company has a market capitalization of $36.08 billion, a PE ratio of 86.62 and a beta of 1.20. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s payout ratio is presently 380.22%.

Iron Mountain Company 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.