Shell Asset Management Co. Sells 28,870 Shares of Iron Mountain Incorporated $IRM

Shell Asset Management Co. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 77.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,544 shares of the financial services provider’s stock after selling 28,870 shares during the quarter. Shell Asset Management Co.’s holdings in Iron Mountain were worth $871,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IRM. Quent Capital LLC purchased a new position in shares of Iron Mountain during the third quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its stake in Iron Mountain by 111.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 343 shares in the last quarter. First Horizon Corp bought a new position in Iron Mountain in the third quarter worth approximately $68,000. City Holding Co. purchased a new position in Iron Mountain during the 3rd quarter worth $68,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Iron Mountain during the 2nd quarter valued at $79,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the transaction, the executive vice president directly owned 55,081 shares of the company’s stock, valued at approximately $4,577,231.10. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $83.34, for a total value of $5,760,877.50. The disclosure for this sale is available in the SEC filing. Insiders sold 119,607 shares of company stock worth $9,970,025 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

IRM stock opened at $109.72 on Tuesday. The firm has a market cap of $32.46 billion, a price-to-earnings ratio of 228.59 and a beta of 1.16. The firm has a 50-day simple moving average of $89.30 and a two-hundred day simple moving average of $93.72. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $110.91.

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

Wall Street Analysts Forecast Growth

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

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.