Trivium Point Advisory LLC Purchases New Shares in Iron Mountain Incorporated $IRM

Trivium Point Advisory LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,366 shares of the financial services provider’s stock, valued at approximately $1,057,000.

Other institutional investors also recently bought and sold shares of the company. Cohen & Steers Inc. increased its position in Iron Mountain by 20.0% in the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after acquiring an additional 3,155,034 shares during the period. State Street Corp lifted its position in Iron Mountain by 1.9% during the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after acquiring an additional 322,144 shares during the period. Geode Capital Management LLC lifted its position in Iron Mountain by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock worth $685,374,000 after acquiring an additional 102,073 shares during the period. Invesco Ltd. grew its stake in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after purchasing an additional 776,933 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Iron Mountain by 8.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock valued at $466,382,000 after purchasing an additional 358,497 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 7,189 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 135,368 shares of company stock worth $16,807,080 over the last quarter. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IRM shares. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Barclays boosted their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.17.

Iron Mountain Stock Up 0.0%

Shares of NYSE IRM opened at $129.49 on Monday. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 92.49 and a beta of 1.20. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The firm has a 50-day moving average price of $124.57 and a 200 day moving average price of $116.11.

Iron Mountain Announces Dividend

The business also recently declared 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. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 247.14%.

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.