Denali Advisors LLC Trims Stock Holdings in Iron Mountain Incorporated $IRM

Denali Advisors LLC decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 35.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,252 shares of the financial services provider’s stock after selling 5,164 shares during the period. Denali Advisors LLC’s holdings in Iron Mountain were worth $943,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Iron Mountain by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider’s stock valued at $2,573,000 after purchasing an additional 1,286 shares during the period. Empowered Funds LLC raised its position in shares of Iron Mountain by 10.3% during the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock valued at $493,000 after buying an additional 537 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Iron Mountain by 41.0% in the first quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock worth $2,129,000 after buying an additional 7,193 shares in the last quarter. CWM LLC boosted its position in shares of Iron Mountain by 27.6% during the second quarter. CWM LLC now owns 8,415 shares of the financial services provider’s stock worth $863,000 after acquiring an additional 1,820 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Iron Mountain by 1.3% during the second quarter. Nordea Investment Management AB now owns 63,914 shares of the financial services provider’s stock worth $6,497,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 38,482 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.17, for a total value of $3,200,547.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.10, for a total value of $498,600.00. Following the sale, the executive vice president owned 55,081 shares of the company’s stock, valued at approximately $4,577,231.10. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 119,607 shares of company stock valued at $9,970,025. 1.90% of the stock is owned by insiders.

Iron Mountain Stock Up 3.5%

IRM opened at $109.72 on Tuesday. The business has a fifty day moving average of $89.30 and a 200 day moving average of $93.72. The stock has a market cap of $32.46 billion, a P/E ratio of 228.59 and a beta of 1.16. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $110.91.

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 $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, March 16th. Iron Mountain’s payout ratio is presently 720.83%.

Analyst Ratings Changes

IRM has been the topic of several research reports. Barclays reaffirmed an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.00.

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.