Trivium Point Advisory LLC Acquires New Holdings in Iron Mountain Incorporated $IRM

Trivium Point Advisory LLC bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, Holdings Channel.com reports. The fund bought 8,366 shares of the financial services provider’s stock, valued at approximately $1,057,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Elevation Wealth Partners LLC increased its stake in shares of Iron Mountain by 444.2% during the 2nd 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 stake in Iron Mountain in the 1st quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC purchased a new stake in Iron Mountain in the 4th quarter valued at approximately $25,000. Johnson Financial Group Inc. acquired a new stake in Iron Mountain during the 3rd quarter valued at $32,000. Finally, Beaird Harris Wealth Management LLC grew its holdings in Iron Mountain by 17,500.0% during the 4th 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. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.0%

IRM stock opened at $129.49 on Monday. The stock has a 50-day moving average price of $124.57 and a two-hundred day moving average price of $116.11. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68. The company has a market cap of $38.55 billion, a PE ratio of 92.49 and a beta of 1.20.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s payout ratio is currently 247.14%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,681,131.58. The trade was a 50.00% decrease in their position. 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, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the sale, the executive vice president directly owned 101,507 shares of the company’s stock, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,368 shares of company stock worth $16,807,080 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IRM. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings upgraded Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. 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. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.17.

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.