Moors & Cabot Inc. Has $4.51 Million Position in Iron Mountain Incorporated $IRM

Moors & Cabot Inc. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 44,209 shares of the financial services provider’s stock after selling 6,065 shares during the period. Moors & Cabot Inc.’s holdings in Iron Mountain were worth $4,507,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Iron Mountain during the second quarter worth about $419,457,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Iron Mountain by 597.9% in the 3rd 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 purchasing an additional 2,708,560 shares during the period. Invesco Ltd. lifted its position in shares of Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after buying an additional 1,440,629 shares during the period. Vontobel Holding Ltd. bought a new stake in Iron Mountain in the third quarter valued at $109,941,000. Finally, Prudential Financial Inc. grew its position in Iron Mountain by 44.7% in the second quarter. Prudential Financial Inc. now owns 1,945,769 shares of the financial services provider’s stock valued at $199,578,000 after acquiring an additional 601,290 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.5%

Shares of IRM stock opened at $107.42 on Tuesday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $115.24. The firm’s 50 day moving average is $99.72 and its 200-day moving average is $96.02. The firm has a market capitalization of $31.78 billion, a price-to-earnings ratio of 223.80 and a beta of 1.13.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain’s dividend payout ratio (DPR) is 720.83%.

Analysts Set New Price Targets

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

Insider Transactions at Iron Mountain

In other Iron Mountain 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 transaction of $762,160.00. Following the transaction, the director directly owned 11,541 shares in the company, valued at approximately $1,256,584.08. This represents a 37.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 98,657 shares of Iron Mountain stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $106.25, for a total transaction of $10,482,306.25. The SEC filing for this sale provides additional information. Insiders sold a total of 391,931 shares of company stock worth $41,180,243 over the last 90 days. 1.90% of the stock is owned by insiders.

About Iron Mountain

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.