Foresight Capital Management Advisors Inc. Trims Stock Position in Iron Mountain Incorporated $IRM

Foresight Capital Management Advisors Inc. trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,644 shares of the financial services provider’s stock after selling 8,645 shares during the period. Iron Mountain comprises approximately 3.7% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 2nd biggest position. Foresight Capital Management Advisors Inc.’s holdings in Iron Mountain were worth $7,534,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Garton & Associates Financial Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $25,000. Beaird Harris Wealth Management LLC raised its position in shares of Iron Mountain by 17,500.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 350 shares during the last quarter. Dynamic Wealth Strategies LLC acquired a new position in shares of Iron Mountain in the first quarter worth approximately $31,000. Johnson Financial Group Inc. bought a new stake in Iron Mountain in the third quarter valued at approximately $32,000. Finally, Bayban bought a new stake in Iron Mountain in the fourth quarter valued at approximately $33,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of IRM stock opened at $121.26 on Friday. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The stock has a 50 day simple moving average of $124.82 and a two-hundred day simple moving average of $114.87. The company has a market cap of $36.08 billion, a P/E ratio of 86.62 and a beta of 1.20.

Iron Mountain Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 2.9%. Iron Mountain’s dividend payout ratio (DPR) is 380.22%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial set a $140.00 price target on shares of Iron Mountain in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of 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 shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Barclays upped their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $135.17.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $126.70, for a total value of $760,200.00. Following the completion of the sale, the executive vice president directly owned 113,507 shares in the company, valued at approximately $14,381,336.90. This trade represents a 5.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 92,786 shares of company stock worth $11,633,760 over the last ninety days. 1.70% of the stock is owned by company insiders.

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.