Prana Capital Management LP Sells 5,516 Shares of Iron Mountain Incorporated $IRM

Prana Capital Management LP lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 34.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,360 shares of the financial services provider’s stock after selling 5,516 shares during the quarter. Prana Capital Management LP’s holdings in Iron Mountain were worth $1,056,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Iron Mountain by 4.5% during the first 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 in the last quarter. Empowered Funds LLC increased its holdings in shares of Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock worth $493,000 after buying an additional 537 shares during the last quarter. Woodline Partners LP raised its position in shares of Iron Mountain by 41.0% during the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock valued at $2,129,000 after buying an additional 7,193 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Iron Mountain by 0.4% in the 2nd quarter. Cetera Investment Advisers now owns 169,452 shares of the financial services provider’s stock valued at $17,381,000 after acquiring an additional 709 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Iron Mountain by 15.3% in the second quarter. Avantax Advisory Services Inc. now owns 85,172 shares of the financial services provider’s stock worth $8,736,000 after acquiring an additional 11,276 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Iron Mountain Price Performance

IRM stock opened at $107.95 on Wednesday. The firm’s 50-day moving average is $100.19 and its 200 day moving average is $96.13. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $115.24. The company has a market capitalization of $31.93 billion, a PE ratio of 224.89 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. Shareholders of record on Monday, March 16th will be given a dividend of $0.864 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.2%. Iron Mountain’s payout ratio is 718.75%.

Insider Activity at Iron Mountain

In related 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 value of $762,160.00. Following the completion of the sale, the director directly owned 11,541 shares of the company’s stock, valued at $1,256,584.08. This represents a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the sale, the executive vice president directly owned 131,507 shares of the company’s stock, valued at $14,106,755.89. The trade was a 4.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 391,931 shares of company stock worth $41,180,243 over the last three months. 1.90% of the stock is owned by corporate 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.